Unconditional Guarantee Agreement

Unconditional Guarantee Agreement

A Promissory note is a legal instrument of finance where a first party known as the “payer” makes a commitment in the form of a written legal document to make a payment to a second party known as the “payee.” The note can be payed in the form of a fixed time declared by nature or at the demand of the second party. The payment over time may be set under an interest of a certain amount per annum. All the specifications of this note shall be determined under a certain set of terms and conditions that are agreed upon. Whenever this Promissory Note is easily fit to be sold and does not have any conditions, then it is also considered to be a negotiable instrument (A document guaranteeing the payment of a specific amount of money within a certain amount of time with the payer’s name written on the document.)

An unconditional Guarantee is an unlimited and continuing guarantee in which the first party guarantees a payment to a certain second party. Regardless of what kind, or how the same obligations came up, that may now exist or accrue in the future or any obligations of the Guarantor shall not exceed a total of a set amount determined. In a general sense, is an agreement to guarantee the debts of another, meaning that one may have to pay the whole debt or the obligation of the debtor. The guarantor however may be able to revoke this guarantee upon a written notice to the obligee. This is an agreement that may only be modified by a written agreement made by both parties.

Unconditional Guarantee Agreement

________________, referred to as Guarantor, hereby guarantees the payment to ________________, referred to as to the Obligee of:

any and all obligations, regardless of the kind, or how the same arose, that may now exist or may accrue in the future, of ____________, regardless of the amount. THIS IS AN UNLIMITED CONTINUING GUARANTEE.

GENERAL TERMS

The Guarantor waives: diligence by ________________ in collection of any indebtedness or other obligation guaranteed herein; notice of nonpayment, protest, notice of protest or other such notice;

The Obligee may: grant renewals, extensions or modifications of the obligation or indebtedness; surrender or release any and all security or collateral; release co-guarantors if any; without affecting the Guarantors obligations herein.

The Obligee shall not have to: first institute suit against ____________ prior to demanding payment under this guarantee; exhaust any remedies it may have against ____________; give notice of acceptance of this guarantee; and may in its discretion seek to enforce this guarantee solely against Guarantor.

Should there be any additional guarantor of the obligations of ____________, whether in whole or in part, this guarantee shall not be affected by the death, release, or insolvency of any other guarantor.

READ CAREFULLY. THIS IS AN AGREEMENT TO GUARANTEE THE DEBTS OF ANOTHER. THIS MEANS THAT YOU MAY HAVE TO PAY THE WHOLE DEBT OR OBLIGATION OF ____________.

The guarantor may revoke this guarantee upon written notice to the Obligee; however, such revocation shall not affect the liability accrued to that date, if any.

This is the entire agreement of the parties and this agreement may only be modified by a written agreement executed by both parties.

Dated: ____________________________

_____________________________________________
Guarantor

cc Debtor
Unconditional Guarantee Agreement
Review List

This review list is provided to inform you about this document in question and assist you in its preparation. If you are a guarantor, you should request that the creditor first seek collection from the debtor. If you are forced to sign this agreement to obtain a loan by the debtor, usually the debtor has such bad credit that you may be forced to come up with the guarantee amount. Be so warned.

1. Make multiple copies. Give one to each related party.

Free Printable Unconditional Guarantee Agreement FormFree Printable Unconditional Guarantee Agreement Form

Save

Save

Save

DOWNLOAD ODT FILE DOWNLOAD DOC FILE DOWNLOAD DOCX FILE DOWNLOAD RTF FILE

10 Comments

  1. Ava Brown
  2. Madison Moore
  3. Sophia Johnson
  4. Elizabet Taylor
  5. Mia Davis
  6. Abigail Wilson
  7. Olivia Williams
  8. Emma Smith
  9. Emily Miller
  10. Isabella Jones
  11. Pingback: 情趣用品
  12. Pingback: dafabet
  13. Pingback: Homepage
  14. Pingback: runescape gold
  15. Pingback: 九州娛樂城
  16. Pingback: NBA傷兵
  17. Pingback: Cheap 59fifty Hats
  18. Pingback: fitflops singapore
  19. Pingback: toms 購物中心

Leave a Reply