Personal guarantee of company debt
Download multiple legal documents and access support through Lawyer Assist at a fraction of the cost.
Key features
- Length:4 pages (1150 words)
- Available in:
Microsoft Word DOCX
Apple Pages
RTF
If the document isn’t right for your circumstances for any reason, just tell us and we’ll refund you in full immediately.
We avoid legal terminology unless necessary. Plain English makes our documents easy to understand, easy to edit and more likely to be accepted.
You don’t need legal knowledge to use our documents. We explain what to edit and how in the guidance notes included at the end of the document.
Email us with questions about editing your document. Use our Lawyer Assist service if you’d like our legal team to check your document will do as you intend.
Our documents comply with the latest relevant law. Our lawyers regularly review how new law affects each document in our library.
About this document
This is a professionally drawn personal guarantee agreement for a lender to put to a company director as a condition of either increased lending or forbearance in enforcement of existing loan conditions. First, it identifies an original loan agreement between the lender and the company, then ties the guarantor to it, to “stand in the shoes” of the company in the event that it was unable to make repayment when due.
The agreement provides many options primarily to strengthen the position of the lender. Some could be deleted so as to provide a softer agreement for the guarantor if required.
The law in this document
There is no modern statutory law relating to guarantees. This document is based on contract common law.
Net Lawman offers other document templates related to new guarantees at Guarantees and Indemnities.
Agreement features and contents
- The key benefit of using this document over adding a guarantee paragraph to the original contract is the simplicity of use.
- There is no need to edit and agree the original contract. That means less room for making a mistake and invalidating some provision of it.
- Provides heavyweight protection for the lender.
- The document highlights the continuing liability of the guarantor (usually the director who is personally liable for the company debt).
Recent reviews
I will definitely look to using the service again.
Choose the level of support you need
Document only
Comprehensive template covering legal and practical points - Detailed guidance notes explaining how to edit each paragraph
- Up to date with latest law our lawyers regularly review how new relevant law affects each document in our library
- Written in plain English avoiding legal terminology unless necessary. plain English makes our documents easy to understand, easy to edit and more likely to be accepted
- Support from our legal team email us with questions about editing your document
- Money back guarantee that if the document isn't right
Lawyer Assist
- Comprehensive template covering legal and practical points
- Detailed guidance notes explaining how to edit each paragraph
- Unlimited email support - ask our legal team any question related to completing the document
- Review of your edited document by our legal team including:
- understanding your requirements
- checking that your document will achieve your goal
- reporting on whether your changes comply with the law
- answering your questions about how to word a new clause or achieve an outcome
- checking that your use of defined terms is correct and consistent
- correcting spelling mistakes
- reformatting the document ready to sign
Bespoke
- A document drawn just for you to your exact requirements
- Personalised service provided by an experienced solicitor
- Free discussion before we provide an estimate, for you to ask questions and for us to understand your requirements
- Transparent fees
- fixed fee to draw a document to your initial instructions
- additional or changed instructions charged either at fixed rates or on a time basis as agreed with you
- no charges for office overheads or third party disbursements
- Careful and thorough consideration of your circumstances and your consequent likely practical and legal requirements
- Provision of options that you may not have considered with availability for discussion
- Help and advice woven into the fabric of our service so that you can make the best decisions
Standard
- Documents included10
(average document price Rs.2600) - Lawyer Assist Service included
(average price Rs.5600) - Discount on further Lawyer Assist30%
- Discount on Bespoke Drafting
- Priority email support
Professional
- Documents included25
(average document price Rs.2600) - Lawyer Assist Service included
(average price Rs.5600) - Discount on further Lawyer Assist40%
- Discount on Bespoke Drafting10%
- Priority email support
Professional Plus
- Documents included25
(average document price Rs.2600) - Lawyer Assist Service included2
(average price Rs.5600) - Discount on further Lawyer Assist40%
- Discount on Bespoke Drafting10%
- Priority email support
All rights reserved