[{"data":1,"prerenderedAt":527},["ShallowReactive",2],{"document-personal-guarantee-D405":3},{"document":4,"label":26,"preview":11,"thumb":27,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":28,"breadcrumb":32,"related":39,"customDescModule":182,"customdescription":6,"mdFm":183,"mdProseHtml":526},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":16,"keywords":15},"PERSONAL GUARANTEE This Personal Guarantee (the \"Agreement\") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the \"Guarantor\"), an individual with his main address located at: [YOUR COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Second Party\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] I, [NAME OF GUARANTOR], residing at [COMPLETE ADDRESS], hereby personally and solidarity guarantee all of the obligations of [YOUR COMPANY NAME] and agree to be bound solidarity with [YOUR COMPANY NAME] for the prompt performance of [YOUR COMPANY NAME]'s obligations under that certain [SPECIFY] Agreement dated [DATE] (the \"Agreement\") between [YOUR COMPANY NAME] and [COMPANY NAME], including without limitation the payment of all goods, wares and merchandise as [YOUR COMPANY NAME] may from time to time select and purchase on credit from [COMPANY NAME], and hereby expressly renounce to the benefits of division and discussion. Furthermore, I agree that waive may extend the time for payment of any amounts owing to it by waive and/or may waive any default by waive without it in any way lessening or limiting my liability hereunder. Notwithstanding the foregoing, my guarantee hereunder to pay any and all amounts owing by [YOUR COMPANY NAME] to [COMPANY NAME] shall be limited to the sum of [AMOUNT] OR [%] of such outstanding amount.",null,"Personal Guarantee","2",513,"doc","https://templates.business-in-a-box.com/imgs/1000px/personal-guarantee-D405.png","https://templates.business-in-a-box.com/imgs/250px/405.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#405.xml",{"title":15,"description":6},"personal guarantee",[17,20,23],{"label":18,"url":19},"Finance & Accounting","/templates/finance-accounting/",{"label":21,"url":22},"Business Loans","/templates/business-loan/",{"label":24,"url":25},"Guaranties & Collateral","/templates/guaranties-collateral/","Personal Guarantee Template","https://templates.business-in-a-box.com/imgs/400px/405.png",[29,17,20,23],{"label":30,"url":31},"Templates","/templates/",[33,34,37],{"label":30,"url":31},{"label":35,"url":36},"Legal Agreements","/templates/business-legal-agreements/",{"label":24,"url":38},"/templates/guaranties-and-collateral/",[40,44,48,52,56,60,64,68,72,76,80,84,88,107,122,135,153,167],{"label":41,"url":42,"thumb":43,"extension":10},"Guarantee of Account","/template/guarantee-of-account-D400","https://templates.business-in-a-box.com/imgs/250px/400.png",{"label":45,"url":46,"thumb":47,"extension":10},"Money Back Guarantee","/template/money-back-guarantee-D13025","https://templates.business-in-a-box.com/imgs/250px/13025.png",{"label":49,"url":50,"thumb":51,"extension":10},"Warranty and Guarantee Policy","/template/warranty-and-guarantee-policy-D13800","https://templates.business-in-a-box.com/imgs/250px/13800.png",{"label":53,"url":54,"thumb":55,"extension":10},"Personal Leave Policy","/template/personal-leave-policy-D722","https://templates.business-in-a-box.com/imgs/250px/722.png",{"label":57,"url":58,"thumb":59,"extension":10},"Guarantee Agreement","/template/guarantee-agreement-D5194","https://templates.business-in-a-box.com/imgs/250px/5194.png",{"label":61,"url":62,"thumb":63,"extension":10},"Personal Protective Equipment Policy","/template/personal-protective-equipment-policy-D13746","https://templates.business-in-a-box.com/imgs/250px/13746.png",{"label":65,"url":66,"thumb":67,"extension":10},"Pledge of Personal Property","/template/pledge-of-personal-property-D406","https://templates.business-in-a-box.com/imgs/250px/406.png",{"label":69,"url":70,"thumb":71,"extension":10},"Guarantee and Postponement of Claims","/template/guarantee-and-postponement-of-claims-D883","https://templates.business-in-a-box.com/imgs/250px/883.png",{"label":73,"url":74,"thumb":75,"extension":10},"Request Release of Personal Guaranty","/template/request-release-of-personal-guaranty-D299","https://templates.business-in-a-box.com/imgs/250px/299.png",{"label":77,"url":78,"thumb":79,"extension":10},"Guarantee of Claim Promissory Note","/template/guarantee-of-claim-promissory-note-D884","https://templates.business-in-a-box.com/imgs/250px/884.png",{"label":81,"url":82,"thumb":83,"extension":10},"Guarantee Assignement and Postponement of Claim","/template/guarantee-assignement-and-postponement-of-claim-D943","https://templates.business-in-a-box.com/imgs/250px/943.png",{"label":85,"url":86,"thumb":87,"extension":10},"Personal Service Agreement","/template/personal-service-agreement-D14028","https://templates.business-in-a-box.com/imgs/250px/14028.png",{"description":89,"descriptionCustom":6,"label":90,"pages":91,"size":92,"extension":10,"preview":93,"thumb":94,"svgFrame":95,"seoMetadata":96,"parents":97,"keywords":105,"url":106},"PROMISSORY NOTE This Promissory Note (the \"Note\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, the Borrower promises to pay to the order of Lender, at its principal office located at [ADDRESS], or at such other place that is designated in writing by the holder hereof, the principal sum of [AMOUNT], together with all charges and interest herein provided, payable at the rate and in the manner hereinafter set forth: Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortization of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid, all amounts due under this Note, including principal, interest and other charges shall be due and payable in full on or before the first day of [MONTH], [YEAR] (the \"Maturity Date\"). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month. This Note is and will be secured by a certain first priority security interest in all of the tangible and intangible property of the Borrower, to be recorded in all applicable governmental offices. The parties shall execute a separate security agreement, in form and substance acceptable to the Lender in all respects. Borrower agrees to execute any such security agreements presented by the Lender or other documents required by the Lender in order to perfect its security interest in the above described property. Said Security Agreement and any other instruments and documents executed in connection with or given as security for this Note shall hereinafter be referred to collectively as the \"Loan Documents.\" All of the terms, covenants, Conditions, representations and warranties contained in the Loan Documents are hereby made part of this Note to the same extent and with the same force and effect as if fully set forth herein. If all or any portion of any payment due hereunder is not received by the Lender within [NUMBER] calendar days after the date when such payment is due, Borrower shall pay a late charge equal to [%] of such payment, such late charge to be immediately due and payable without demand by Lender. Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding, (ii) all interest accrued to the date of such prepayment, (iii) all interest calculated through the Maturity Date, and (iv) any late charge or charges then due and owing. If any payment under this Note is not paid in full by the [DAY] of any month during the term hereof or if the entire amount due as represented by this Note is not paid in full on or before the Maturity Date, or should default be made in the performance or observation of any of the terms, covenants, or conditions contained in the Loan Documents, or if any representation or warranty contained in the Loan Documents is breached or is or becomes untrue, this Note shall be in default, and the entire principal amount outstanding hereunder, accrued interest thereon, all late charges, if any, and any and all other charges due hereunder, shall, at Lender's option, immediately become due and payable, without further notice, the giving of such notice being expressly waived by the Borrower","Promissory Note","3",39,"https://templates.business-in-a-box.com/imgs/1000px/promissory-note-D434.png","https://templates.business-in-a-box.com/imgs/250px/434.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#434.xml",{"title":6,"description":6},[98,100,102],{"label":18,"url":99},"finance-accounting",{"label":21,"url":101},"business-loan",{"label":103,"url":104},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":108,"descriptionCustom":6,"label":109,"pages":110,"size":9,"extension":10,"preview":111,"thumb":112,"svgFrame":113,"seoMetadata":114,"parents":116,"keywords":120,"url":121},"OPERATING AGREEMENT This Operating Agreement is entered into as of the [DATE], BETWEEN: [INDIVIDUAL NAMES] (the \"Managing Members\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Non-Managing Members\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] The Managing Members and the Non-Managing Members are referred to herein collectively as the \"Members\". The Members have formed the Company by causing a Certificate of Formation (the \"Certificate\") conforming to the requirements of the [STATE] Revised Limited Liability Company Act (the \"Act\") to be filed in the Office of the Secretary of State for the State of [STATE]. NAME, PURPOSE AND PRINCIPAL OFFICE OF COMPANY Name The name of the Company is [COMPANY NAME],. The affairs of the Company shall be conducted under such name or such other name as the Managing Members may, in their discretion, determine. [COMPANY NAME] hereby grants the Company the right, at no cost, to use the [SPECIFY] name for the term of the Company as set forth in Article [SPECIFY] hereof. Agreement In consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Members executing this Agreement hereby agree to the terms and conditions of this Agreement, as it may be amended from time to time. It is the express intention of the Members that this Agreement shall be the sole statement of agreement among them, and, except to the extent a provision of this Agreement expressly incorporates matters by express reference, this Agreement shall govern even when inconsistent with or different from the provisions of the Act or any other provision of law. Purpose; Powers Purpose. The primary purpose of the Company is to act as the general partner of [COMPANY NAME] (the \"Fund\"). Powers. Subject to all the terms and provisions hereof, the Company shall have all powers necessary, suitable or convenient for the accomplishment of the purpose of the Company, including, without limitation, the following: to purchase, sell, invest and trade in securities of every kind, including, without limitation, capital stock, limited partnership interests, bonds, notes, debentures, securities convertible into other securities, trust receipts and other obligations, instruments or evidence of indebtedness, as well as in rights, warrants and options to purchase securities. to make and perform all contracts and engage in all activities and transactions necessary or advisable to [SPECIFY] out the purposes of the Company, including, without limitation, the purchase, sale, transfer, pledge and exercise of all rights, privileges and incidents of ownership or possession with respect to any Company asset or liability; the borrowing or lending of money and the securing of payment of any Company obligation by hypothecation or pledge of, or grant of a security interest in, Company assets; and the guarantee of or becoming surety for the debts of others; and otherwise, to have all the powers available to it as a limited liability company under the Act. Registered Office and Agent The initial address of the Company registered office in [STATE] is, and its initial agent at such address for service of process is Incorporating Services Limited. The Managing Members may change the registered office and agent for service of process as they from time to time may determine. Principal Office The principal office of the Company shall initially be located at [ADDRESS]. The Managing Members may change the location of the principal office of the Company at any time. Definitions Additional Members. This term shall have the meaning ascribed to it in Paragraph 3.2. Affiliate. With reference to any person, any other person controlling, controlled by or under direct or indirect common control with such person. Agreement. This Operating Agreement of [COMPANY NAME], a [STATE] limited liability company. Assignee. This term shall have the meaning ascribed to it in Paragraph [NUMBER]. Bankruptcy. A person or entity shall be deemed bankrupt if: any proceeding is commenced against such person or entity as debtor for any relief under bankruptcy or insolvency laws, or laws relating to the relief of debtors, reorganizations, arrangements, compositions or extensions and such proceeding is not dismissed within [NUMBER] days after such proceeding has commenced, or such person or entity commences any proceeding for relief under bankruptcy or insolvency laws or laws relating to the relief of debtors, reorganizations, arrangements, compositions or extensions. Book Value. This term shall have the meaning ascribed to it in Paragraph 6.2(a). Capital Account. This term shall have the meaning ascribed to it in Paragraph 6.2(b). Capital Commitment. This term shall have the meaning ascribed to it in Paragraph 5.1. Capital Contribution. This term shall have the meaning ascribed to it in Paragraph 5.1(b). [SPECIFY]. The Company [PERCENTAGE] carried interest in the income of the Fund. Certificate. The Certificate of Formation of [COMPANY NAME], a [STATE] limited liability company. Code. [SPECIFY YOUR COUNTRY INTERNAL REVENUE ACT/CODE/LAW], as amended from time to time (and any corresponding provisions of succeeding law). Defaulting Member. This term shall have the meaning ascribed to it in Paragraph 5.4(a). Fiscal Quarter. This term shall have the meaning ascribed to it in Paragraph 6.2(c). Fiscal Year. This term shall have the meaning ascribed to it in Paragraph 6.2(d). Management Fee. The management fee receivable by the Company from the Fund. Net Income or Net Loss. This term shall have the meaning ascribed to it in Paragraph 6.2(e). Percentage Interest. This term shall have the meaning ascribed to it in Paragraph [NUMBER]. Sale or Exchange. This term shall have the meaning ascribed to it in Paragraph [NUMBER]. Securities Act. [YOUR COUNTRY ACT/CODE/LAW] as amended from time to time. Securities. Securities of every kind and nature and rights and options with respect thereto, including stock, notes, bonds, debentures, evidence of indebtedness and other business interests of every type, including interests in partnerships, joint ventures, proprietorships and other business entities. TMP. This term shall have the meaning ascribed to it in Paragraph 13.16. Termination Date. This term shall have the meaning ascribed to it in Paragraph 2.1. Treasury Regulations. The Income Regulations promulgated under the Code, as such Regulations may be amended from time to time (including corresponding provisions of succeeding Regulations). TERM AND TERMINATION OF THE COMPANY Term The term of the Company shall continue until [NUMBER] year after the dissolution of the Fund unless sooner terminated as provided in Paragraph 2.2 or by operation of law or extended as provided in Paragraph 2.3. The last day of the term of the Company, as such may be extended as provided herein, is referred to herein as the \"Termination Date.\" Termination The Company shall terminate prior to the end of the period specified in Paragraph 2.1 at the election of the Managing Members. The Managing Members shall deliver notice of such termination to the Non-Managing Members. Extension of Term The term of the Company may be extended by the Managing Members. The Managing Members shall provide notice of any such extension to the Non-Managing Members. INITIAL MEMBERS; CHANGES IN MEMBERSHIP Name and Address The persons listed on Exhibit A are hereby admitted as Members of the Company","Operating Agreement","21","https://templates.business-in-a-box.com/imgs/1000px/operating-agreement-D12798.png","https://templates.business-in-a-box.com/imgs/250px/12798.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12798.xml",{"title":115,"description":6},"operating agreement",[117,119],{"label":35,"url":118},"business-legal-agreements",{"label":35,"url":118},"indemnification agreement","/template/indemnification-agreement-D12798",{"description":123,"descriptionCustom":6,"label":124,"pages":8,"size":9,"extension":10,"preview":125,"thumb":126,"svgFrame":127,"seoMetadata":128,"parents":130,"keywords":129,"url":134},"LOAN AGREEMENT This Loan Agreement (\"Agreement\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Promise to Pay Within [NUMBER] months from today, Borrower promises to pay to Lender the sum of [AMOUNT], and interest and other charges stated below. Responsibility Although this Agreement may be signed below by more than one person, Borrower understands that both parties are individuals responsible for paying back the full amount. Breakdown of Loan Amount of Loan: Other (Describe): Amount Financed: Finance Charge: Total of Payments: Annual Rate: Repayment Borrower will repay the amount of this note in [NUMBER] equal uninterrupted monthly installments of [AMOUNT] each on the [DAY] of each month starting on the [DATE], and ending on [DATE]. Prepayment Borrower has the right to prepay the whole outstanding amount at any time","Loan Agreement","https://templates.business-in-a-box.com/imgs/1000px/loan-agreement-D417.png","https://templates.business-in-a-box.com/imgs/250px/417.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#417.xml",{"title":129,"description":6},"loan agreement",[131,132,133],{"label":18,"url":99},{"label":21,"url":101},{"label":21,"url":101},"/template/loan-agreement-D417",{"description":136,"descriptionCustom":6,"label":137,"pages":138,"size":139,"extension":10,"preview":140,"thumb":141,"svgFrame":142,"seoMetadata":143,"parents":144,"keywords":151,"url":152},"COMMERCIAL LEASE AGREEMENT This Lease Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Landlord\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [TENANT NAME] (the \"Tenant\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] DESCRIPTION OF PREMISES Landlord leases to Tenant the premises located at [address], [city], [state], and described more particularly as follows: [insert legal description]. GRANT OF LEASE Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does hereby lease and take from the Landlord the property described in Exhibit \"A\" attached hereto and by reference made a part hereof (the \"Leased Premises\"), together with, as part of the parcel, all improvements located thereon. LEASE TERM Total Term of Lease: The term of this Lease shall begin on the commencement date, as defined in Section b) of this Article 3, and shall terminate on [DATE]. Commencement Date: The \"Commencement Date\" shall mean the date on which the Tenant shall commence to conduct business on the Leased Premised, so long as such date is not in excess of [NUMBER] days subsequent to execution hereof. EXTENSIONS The parties hereto may elect to extend this Agreement upon such terms and conditions as may be agreed upon in writing and signed by the parties at the time of any such extension. DETERMINATION OF RENT The Tenant agrees to pay the Landlord and the Landlord agrees to accept, during the term hereof, at such place as the Landlord shall from time to time direct by notice to the Tenant, rent at the following rates and times: Annual Rent: Annual rent for the term of the Lease shall be [AMOUNT], plus applicable sales tax. Payment of Yearly Rent: The annual rent shall be payable in advance in equal monthly installments of one-twelfth (1/12th) of the total yearly rent, which shall be [AMOUNT], on the first day of each and every calendar month during the term hereof, and prorata for the fractional portion of any month, except that on the first day of the calendar month immediately following the Commencement Date, the Tenant shall also pay to the Landlord rent at the said rate for any portion of the preceding calendar month included in the term of this Lease. Reference to yearly rent hereunder shall not be implied or construed to the effect that this Lease or the obligation to pay rent hereunder is from year to year, or for any term shorter than the existing Lease term, plus any extensions as may be agreed upon. A late fee in the amount of [AMOUNT] shall be assessed if payment is not postmarked or received by Landlord on or before the tenth day of each month. USE OF PROPERTY BY TENANT The Leased Premises may be occupied and used by Tenant exclusively as a [DESCRIBE], to be known as a [DESCRIBE]. Nothing herein shall give Tenant the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any Sub-Tenant, assignee, or licensee, which or who shall use the property for any other use. RESTRICTIONS ON USE Tenant shall not use the demised premises in any manner that will increase risks covered by insurance on the demised premises and result in an increase in the rate of insurance or a cancellation of any insurance policy, even if such use may be in furtherance of Tenant's business purposes. Tenant shall not keep, use, or sell anything prohibited by any policy of fire insurance covering the demised premises, and shall comply with all requirements of the insurers applicable to the demised premises necessary to keep in force the fire and liability insurance. WASTE, NUISANCE, OR UNLAWFUL ACTIVITY Tenant shall not allow any waste or nuisance on the demised premises, or use or allow the demised premises to be used for any unlawful purpose. DELAY IN DELIVERING POSSESSION This lease agreement shall not be rendered void or voidable by the inability of Landlord to deliver possession to Tenant on the date set forth in Section 3. Landlord shall not be liable to Tenant for any loss or damage suffered by reason of such a delay; provided, however, that Landlord does deliver possession no later than [date]. In the event of a delay in delivering possession, the rent for the period of such delay will be deducted from the total rent due under this lease agreement. No extension of this lease agreement shall result from a delay in delivering possession. SECURITY DEPOSIT The Tenant has deposited with the Landlord the sum of [AMOUNT] as security for the full and faithful performance by the Tenant of all the terms of this lease required to be performed by the Tenant. Such sum shall be returned to the Tenant after the expiration of this lease, provided the Tenant has fully and faithfully carried out all of its terms. In the event of a bona fide sale of the property of which the leased premises are a part, the Landlord shall have the right to transfer the security to the purchaser to be held under the terms of this lease, and the Landlord shall be released from all liability for the return of such security to the Tenant. TAXES Property Taxes: The Tenant shall be liable for all taxes levied against any leasehold interest of the Tenant or personal property and trade fixtures owned or placed by the Tenant in the Leased Premises. Real Estate Taxes: During the continuance of this lease Landlord shall deliver to Tenant a copy of any real estate taxes and assessments against the Leased Property. From and after the Commencement Date, the Tenant shall pay to Landlord not later than [NUMBER] days after the day on which the same may become initially due, all real estate taxes and assessments applicable to the Leased Premises, together with any interest and penalties lawfully imposed thereon as a result of Tenant's late payment thereof, which shall be levied upon the Leased Premises during the term of this Lease. Contest of Taxes: The Tenant, at its own cost and expense, may, if it shall in good faith so desire, contest by appropriate proceedings the amount of any personal or real property tax. The Tenant may, if it shall so desire, endeavor at any time or times, by appropriate proceedings, to obtain a reduction in the assessed valuation of the Leased Premises for tax purposes. In any such event, if the Landlord agrees, at the request of the Tenant, to join with the Tenant at Tenant's expense in said proceedings and the Landlord agrees to sign and deliver such papers and instruments as may be necessary to prosecute such proceedings, the Tenant shall have the right to contest the amount of any such tax and the Tenant shall have the right to withhold payment of any such tax, if the statute under which the Tenant is contesting such tax so permits. Payment of Ordinary Assessments: The Tenant shall pay all assessments, ordinary and extraordinary, attributable to or against the Leased Premises not later than [NUMBER] days after the day on which the same became initially due. The Tenant may take the benefit of any law allowing assessments to be paid in installments and in such event the Tenant shall only be liable for such installments of assessments due during the term hereof. ","Commercial Lease Agreement","19",145,"https://templates.business-in-a-box.com/imgs/1000px/lease-agreement-D1179.png","https://templates.business-in-a-box.com/imgs/250px/1179.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1179.xml",{"title":6,"description":6},[145,148],{"label":146,"url":147},"Real Estate","real-estate-business",{"label":149,"url":150},"Business Checklists","business-checklists","lease agreement","/template/lease-agreement-D1179",{"description":154,"descriptionCustom":6,"label":155,"pages":156,"size":157,"extension":10,"preview":158,"thumb":159,"svgFrame":160,"seoMetadata":161,"parents":162,"keywords":165,"url":166},"SECURITY AGREEMENT This Security Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [SECURED PARTY NAME] (the \" Secured Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Debtor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] For value received, the undersigned Debtor, promises to pay to the order of [name], together with any other holder of this note (\"Secured Party\"), [amount], with interest at the rate of [%] per annum. Payment shall be made in successive equal monthly installments of [amount]. Each such Installment is payable on the [day] of each month, commencing on [date]. Recitals WHEREAS, the Secured Party has extended to the Debtor a certain loan as evidenced by a certain promissory note, in the original principal amount equal to [amount] dated on even date herewith (the \"Note\"); and WHEREAS, the Debtor wishes to grant a first priority security interest in and to all of the Debtor's tangible and intangible personal property pursuant to the terms hereof; NOW, THEREFORE, for and in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereto covenant and agree as follows: DEFINITIONS The following terms shall have the meanings herein specified unless the context otherwise requires. Such definitions shall be equally applicable to the singular and plural forms of the terms defined: \"Contracts\" shall mean all contracts between the Debtor and one or more additional parties. \"Contract Rights\" shall mean all rights of the Debtor (including, without limitation, all rights to payment) under each Contract. \"Copyrights\" shall mean any [country] copyright to which the Debtor now or hereafter has title, as well as any application for a [country] copyright hereafter made by the Debtor. \"Equipment\" shall mean any \"equipment,\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures and vehicles now or hereafter owned by the Debtor and any and all additions, substitutions and replacements of, any of the foregoing, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto. \"General Intangibles\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Goods\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Inventory\" shall mean all raw materials, workinprocess, and finished inventory of the Debtor of every type or description and all documents of title covering such inventory, and shall specifically include all \"inventory\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by the Debtor. \"Marks\" shall mean any trademarks and service marks now held or hereafter acquired by the Debtor, which are registered in the [country] Patent and Trademark Office, as well as any unregistered marks used by the Debtor in the [COUNTRY] and trade dress, including logos and/or designs, in connection with which any of these registered or unregistered marks are used. \"Obligations\" shall mean: (i) all indebtedness, obligations and liabilities (including, without limitation, guarantees and other contingent liabilities) of the Debtor to the Secured Party, including but not limited to the Note; (ii) any and all sums advanced by the Secured Party in order to preserve the Collateral or preserve its security interest in the Collateral; and (iii) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations or liabilities of the Debtor referred to in clause (i), after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys' fees and court costs. \"Patents\" shall mean any [country] patent to which the Debtor now or hereafter has title, as well as any application for a [country] patent now or hereafter made by Debtor. \"Proceeds\" shall have the meaning assigned that term under the [law or code] as in effect in the State of [state/province] on the date hereof or under other relevant law and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Secured Party or the Debtor from time to time with respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to the Debtor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental authority and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. \"Receivables\" shall mean any \"account\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [STATE/PROVINCE], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all of the Debtor's rights to payment for goods sold or leased or services performed by the Debtor, whether now in existence or arising from time to time hereafter, including, without limitation, rights evidenced by an account, note, contract, security agreement, or other evidence of indebtedness or security, together with (i) all security pledged, assigned, hypothecated or granted to or held by the Debtor to secure the foregoing; (ii) all of the Debtor's right, title and interest in and to any goods, the sale of which gave rise thereto; (iii) all guarantees, endorsements and indemnifications on, or of, any of the foregoing; (iv) all powers of attorney for the execution of any evidence of indebtedness or security or other writing in connection therewith; (v) all books, records, ledger cards and invoices relating thereto; (vi) all evidences of the filing of financing statements and other statements and the registration of other instruments in connection therewith and amendments thereto, notices to other creditors or secured parties, and certificates from filing or other registration officers; (vii) all credit information, reports and memoranda relating thereto and (viii) all other writings related in any way to the foregoing. GRANT OF SECURITY INTEREST The Debtor does hereby grant to the Secured Party a continuing security interest of first priority in all of the right, title and interest of the Debtor in, to and under all of the following property whether now existing or hereafter created or arising: ","Security Agreement","10",96,"https://templates.business-in-a-box.com/imgs/1000px/security-agreement-D915.png","https://templates.business-in-a-box.com/imgs/250px/915.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#915.xml",{"title":6,"description":6},[163,164],{"label":35,"url":118},{"label":35,"url":118},"security agreement","/template/security-agreement-D915",{"description":168,"descriptionCustom":6,"label":169,"pages":170,"size":9,"extension":10,"preview":171,"thumb":172,"svgFrame":173,"seoMetadata":174,"parents":176,"keywords":175,"url":181},"BUSINESS CREDIT APPLICATION Name/Address Last: First: Middle Initial: Title Company Name: Tax I.D. Number Address: City: State/Province: ZIP/Postal Code: Phone: Company Information Type of Business: In Business Since: Legal Form Under Which Business Operates: State/Province/Country: Corporation Partnership Proprietorship Other If Division/Subsidiary, Name of Parent Company: In Business Since: Name of Company Principal Responsible for Business Transactions: Title: Address: City: State/Province: ZIP: Phone: Name of Company Principal Responsible for Business Transactions: Title: Address: City: State/Province: ZIP: Phone: ","Business Credit Application","1","https://templates.business-in-a-box.com/imgs/1000px/business-credit-application-D247.png","https://templates.business-in-a-box.com/imgs/250px/247.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#247.xml",{"title":175,"description":6},"business credit application",[177,180],{"label":178,"url":179},"Credit & Collection","credit-collection",{"label":178,"url":179},"/template/business-credit-application-D247",false,{"seo":184,"reviewer":196,"legal_disclaimer":200,"quick_facts":201,"at_a_glance":203,"personas":207,"variants":232,"glossary":257,"clauses":294,"how_to_fill":345,"common_mistakes":386,"faqs":403,"industries":434,"comparisons":451,"diy_vs_lawyer":467,"jurisdictions":480,"related_template_ids_curated":501,"schema":513,"classification":514},{"meta_title":185,"meta_description":186,"primary_keyword":187,"secondary_keywords":188},"Personal Guarantee Template | BIB","Free personal guarantee template for business owners pledging personal liability for company debts. Covers loans, leases, and supplier credit.","personal guarantee template",[189,190,191,192,193,194,195],"personal guarantee agreement template","personal guarantee form","personal guarantee template word","personal guarantee template free","personal guarantee letter template","business loan personal guarantee","landlord personal guarantee template",{"name":197,"credential":198,"reviewed_date":199},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":202,"legal_review_recommended":200,"signature_required":200,"notarization_required":182},"advanced",{"what_it_is":204,"when_you_need_it":205,"whats_inside":206},"A Personal Guarantee is a legally binding undertaking in which an individual — typically a business owner, director, or principal — agrees to be personally responsible for the debts and obligations of a company if the company itself fails to perform. This free Word download gives you a structured, creditor-ready template you can edit online and export as PDF to satisfy lender, landlord, or supplier requirements.\n","Use it when a bank, landlord, or key supplier requires a principal's personal commitment before extending credit, approving a lease, or opening a trade account for a small business or newly formed entity without sufficient credit history.\n","Guarantor and creditor identification, the underlying obligation being guaranteed, the scope of liability (limited vs. unlimited), waiver of defenses, notice and demand provisions, governing law, and signature blocks for the guarantor and a witness or notary where required.\n",[208,212,216,220,224,228],{"title":209,"use_case":210,"icon_asset_id":211},"Small business owners","Satisfying a bank's requirement before securing a business loan or line of credit","persona-small-business-owner",{"title":213,"use_case":214,"icon_asset_id":215},"Startup founders","Providing a personal guarantee to a landlord to execute a commercial lease","persona-startup-founder",{"title":217,"use_case":218,"icon_asset_id":219},"Commercial landlords","Requiring a principal's personal backing before leasing to a new or small-entity tenant","persona-landlord",{"title":221,"use_case":222,"icon_asset_id":223},"Lenders and credit officers","Documenting a guarantor's personal obligation as collateral support for a business loan","persona-lender",{"title":225,"use_case":226,"icon_asset_id":227},"Suppliers and trade creditors","Securing a principal's commitment before opening a net-terms trade account for a small company","persona-supplier",{"title":229,"use_case":230,"icon_asset_id":231},"Directors of private companies","Executing a guarantee required by a franchisor or investor as a condition of the transaction","persona-ceo",[233,237,240,244,247,250,253],{"situation":234,"recommended_template":235,"slug":236},"Guarantor's liability is capped at a specific dollar amount","Limited Personal Guarantee","personal-guarantee-D405",{"situation":238,"recommended_template":239,"slug":236},"Guarantor's liability covers all present and future obligations with no cap","Unlimited Personal Guarantee",{"situation":241,"recommended_template":242,"slug":243},"Multiple principals each guarantee a defined share of the debt","Several Guarantee (Pro-Rata)","guarantee-of-account-D400",{"situation":245,"recommended_template":246,"slug":243},"Multiple guarantors are each fully liable for the entire debt","Joint and Several Guarantee",{"situation":248,"recommended_template":249,"slug":236},"Guarantee is tied to a commercial real estate lease","Lease Personal Guarantee",{"situation":251,"recommended_template":252,"slug":236},"Guarantee supports an SBA 7(a) or 504 loan specifically","SBA Loan Personal Guarantee",{"situation":254,"recommended_template":255,"slug":256},"Guarantee releases automatically once the principal debt is paid in full","Continuing Guarantee with Release Clause","general-continuing-guaranty-D399",[258,261,264,267,270,273,276,279,282,285,288,291],{"term":259,"definition":260},"Guarantor","The individual who signs the personal guarantee and agrees to be personally liable if the principal debtor (the company) defaults.",{"term":262,"definition":263},"Principal Debtor","The company or entity whose obligations are being guaranteed — the party that owes the underlying debt or performance obligation.",{"term":265,"definition":266},"Creditor","The party to whom the guarantee is given — typically a bank, landlord, or supplier extending credit to the business.",{"term":268,"definition":269},"Unlimited Guarantee","A guarantee in which the guarantor's personal liability covers the full outstanding balance with no dollar cap, including interest, fees, and collection costs.",{"term":271,"definition":272},"Limited Guarantee","A guarantee in which the guarantor's liability is capped at a specified dollar amount or a defined percentage of the total obligation.",{"term":274,"definition":275},"Continuing Guarantee","A guarantee that covers not just a single transaction but all present and future obligations the principal debtor incurs with the creditor, until formally revoked.",{"term":277,"definition":278},"Joint and Several Liability","A structure in which each of multiple guarantors is individually liable for the entire debt, allowing the creditor to pursue any one of them for the full amount.",{"term":280,"definition":281},"Waiver of Defenses","A clause by which the guarantor gives up the right to raise certain legal defenses — such as lack of notice or the creditor's failure to pursue the debtor first — before the guarantee can be called.",{"term":283,"definition":284},"Subrogation","The guarantor's right, after paying the creditor, to step into the creditor's shoes and pursue the principal debtor for reimbursement.",{"term":286,"definition":287},"Demand Provision","A clause specifying that the creditor may call on the guarantee immediately upon the debtor's default, without first exhausting remedies against the debtor.",{"term":289,"definition":290},"Indemnity","An obligation by which the guarantor agrees to compensate the creditor for any loss arising from the debtor's default, distinct from but often paired with the guarantee itself.",{"term":292,"definition":293},"Release","A formal discharge of the guarantor's obligations, typically issued by the creditor once the underlying debt is repaid in full or a negotiated settlement is reached.",[295,300,305,310,315,320,325,330,335,340],{"name":296,"plain_english":297,"sample_language":298,"common_mistake":299},"Parties and recitals","Identifies the guarantor by full legal name, the principal debtor (the company), and the creditor, and states the commercial reason the guarantee is being given.","This Personal Guarantee is entered into as of [DATE] by [GUARANTOR FULL LEGAL NAME] ('Guarantor'), residing at [ADDRESS], in favor of [CREDITOR LEGAL NAME] ('Creditor'), in connection with the [LOAN AGREEMENT / LEASE / CREDIT FACILITY] dated [DATE] between [COMPANY LEGAL NAME] ('Company') and Creditor.","Using a nickname or trade name instead of the guarantor's full legal name as it appears on government-issued ID — creating an identity mismatch that can impede enforcement.",{"name":301,"plain_english":302,"sample_language":303,"common_mistake":304},"Guarantee of payment and performance","States that the guarantor unconditionally guarantees that the company will pay all amounts owed and perform all obligations under the underlying agreement, and that if the company fails to do so, the guarantor will.","Guarantor unconditionally and irrevocably guarantees to Creditor the prompt payment when due of all amounts owed by Company under the [AGREEMENT NAME], and the full and timely performance of all obligations of Company thereunder.","Limiting the guarantee to payment only, inadvertently excluding performance obligations — leaving the creditor without recourse if the company breaches a non-monetary covenant.",{"name":306,"plain_english":307,"sample_language":308,"common_mistake":309},"Scope of liability (limited vs. unlimited)","Defines whether the guarantor's exposure is capped at a fixed dollar amount or extends to the entire debt, including interest, fees, and enforcement costs.","Guarantor's liability under this Guarantee shall [not exceed $[MAXIMUM AMOUNT] in the aggregate / be unlimited and shall include all principal, accrued interest, late fees, and reasonable attorneys' fees and collection costs incurred by Creditor].","Agreeing to an unlimited guarantee without negotiating a cap — even a partial cap (e.g., 12 months of rent) materially limits personal exposure and is often acceptable to creditors.",{"name":311,"plain_english":312,"sample_language":313,"common_mistake":314},"Continuing guarantee","Specifies that the guarantee applies to all present and future obligations of the company to the creditor, not just the obligation in existence at signing.","This Guarantee is a continuing guarantee and shall apply to all existing and future indebtedness and obligations of Company to Creditor, regardless of the form, nature, or time of incurrence of such obligations.","Not reading whether the guarantee is continuing before signing — a continuing guarantee can bind the guarantor to obligations the company incurs years after execution.",{"name":316,"plain_english":317,"sample_language":318,"common_mistake":319},"Waiver of defenses and notices","The guarantor waives specific rights — such as requiring the creditor to first sue the debtor, or to provide notice before calling the guarantee — that would otherwise give the guarantor procedural protection.","Guarantor waives: (a) notice of acceptance of this Guarantee; (b) notice of the creation or modification of any obligation of Company; (c) demand, presentment, protest, and notice of dishonor; and (d) the right to require Creditor to first proceed against Company or any collateral before enforcing this Guarantee.","Waiving all defenses without retaining the right to dispute the underlying debt amount — leaving the guarantor with no ability to challenge an inflated or miscalculated demand.",{"name":321,"plain_english":322,"sample_language":323,"common_mistake":324},"Subrogation and reimbursement","Grants the guarantor the right to pursue the company for repayment after the guarantor has paid the creditor, but subordinates that right to the creditor's full recovery.","Upon payment in full by Guarantor of all obligations guaranteed hereunder, Guarantor shall be subrogated to the rights of Creditor against Company; provided, however, that Guarantor shall not exercise any such right until Creditor has been paid in full.","Omitting the subordination proviso — a guarantor who pursues the debtor before the creditor is fully repaid can trigger a breach of the guarantee agreement itself.",{"name":326,"plain_english":327,"sample_language":328,"common_mistake":329},"Demand and enforcement","Specifies how and when the creditor may call on the guarantee — typically by written demand to the guarantor — and that payment is due within a stated number of days of that demand.","Upon written demand from Creditor following a default by Company, Guarantor shall pay all amounts due under this Guarantee within [10] business days of receipt of such demand, without set-off, deduction, or withholding.","No stated timeline for payment after demand — without one, 'reasonable time' is determined by a court, which introduces cost and delay into what should be a straightforward enforcement.",{"name":331,"plain_english":332,"sample_language":333,"common_mistake":334},"Representations and warranties","The guarantor confirms they have the legal capacity to enter the guarantee, are not insolvent, and have received adequate consideration (typically the benefit derived from the credit extended to the company).","Guarantor represents and warrants that: (a) Guarantor has full legal capacity to execute this Guarantee; (b) Guarantor is not currently insolvent; (c) execution of this Guarantee does not violate any agreement to which Guarantor is a party; and (d) Guarantor has received adequate consideration for entering into this Guarantee.","Omitting a solvency representation — if the guarantor is already insolvent at signing, the guarantee may be voided as a fraudulent conveyance under applicable insolvency law.",{"name":336,"plain_english":337,"sample_language":338,"common_mistake":339},"Governing law and dispute resolution","Specifies which jurisdiction's law governs the guarantee and how disputes are resolved — typically the creditor's preferred jurisdiction, which may differ from where the guarantor resides.","This Guarantee shall be governed by and construed in accordance with the laws of the State of [STATE], without regard to conflict-of-law principles. Guarantor consents to the exclusive jurisdiction of the courts of [STATE / COUNTY] for any dispute arising under this Guarantee.","Agreeing to a governing law in a jurisdiction where the guarantor has no assets — giving the creditor a judgment it cannot practically enforce.",{"name":341,"plain_english":342,"sample_language":343,"common_mistake":344},"Release and termination","States the conditions under which the guarantor's obligations are fully discharged — most commonly, full repayment of the underlying debt — and requires a formal written release from the creditor.","This Guarantee shall terminate and Guarantor shall be fully released upon the irrevocable payment in full of all obligations of Company to Creditor under the [AGREEMENT NAME] and the issuance of a written release by Creditor to Guarantor.","Assuming the guarantee expires automatically when the loan is repaid — without a written release clause, a creditor could argue that future obligations reactivate a continuing guarantee.",[346,351,356,361,366,371,376,381],{"step":347,"title":348,"description":349,"tip":350},1,"Identify all parties by full legal name","Enter the guarantor's full legal name and residential address, the company's registered legal name and jurisdiction of formation, and the creditor's full legal name and address. These must match exactly what appears on the underlying loan, lease, or credit agreement.","Request the creditor's exact legal entity name from their letterhead or corporate registry — a name mismatch can create enforceability questions in the event of a dispute.",{"step":352,"title":353,"description":354,"tip":355},2,"Reference the underlying agreement precisely","Insert the exact name, date, and identifying number of the agreement being guaranteed — e.g., 'Loan Agreement dated [DATE], Loan No. [XXXXXX].' If guaranteeing a lease, include the property address and lease commencement date.","If the underlying agreement is amended after the guarantee is signed, confirm in writing whether the guarantee extends to the amended terms — most continuing guarantees do, but confirming avoids later disputes.",{"step":357,"title":358,"description":359,"tip":360},3,"Choose and complete the scope of liability clause","Decide whether the guarantee will be limited (capped at a specific dollar amount) or unlimited (covering the full debt plus interest, fees, and costs). Delete the inapplicable bracketed option and fill in the cap amount if using a limited guarantee.","If the creditor insists on an unlimited guarantee, negotiate for a burn-down provision — the cap reduces automatically as the principal balance is paid down.",{"step":362,"title":363,"description":364,"tip":365},4,"Review and tailor the waiver of defenses clause","Read every defense being waived carefully. Consider retaining the right to dispute the calculation of the amount owed, even if you agree to waive procedural defenses such as notice and demand requirements.","At minimum, negotiate to keep the right to offset any amounts the creditor owes the company against the guaranteed obligation — some creditors will accept this carve-out.",{"step":367,"title":368,"description":369,"tip":370},5,"Set the demand payment timeline","Enter the number of business days (typically 5 to 15) within which the guarantor must pay following a written demand. Ensure this timeline is realistic given how quickly you could liquidate assets if called.","A 10-business-day window is generally accepted by commercial creditors and gives the guarantor time to arrange funds without appearing uncooperative.",{"step":372,"title":373,"description":374,"tip":375},6,"Confirm the governing law and venue","Enter the state, province, or country whose law will govern the guarantee, and the specific court or arbitration venue where disputes will be resolved. If the creditor insists on their jurisdiction, verify you have assets there or can effectively litigate remotely.","If the creditor is in a different state, negotiate for the courts of your home state or at least a mutually convenient federal court — forum shopping by creditors is common.",{"step":377,"title":378,"description":379,"tip":380},7,"Execute with proper formalities","Both the guarantor and a creditor representative must sign and date the guarantee. Some lenders and jurisdictions require a witness signature or notarization — check the creditor's requirements and applicable law before the signing meeting.","If a spouse or domestic partner may have an interest in assets being exposed to guarantee liability, some creditors require the spouse to also sign or provide a spousal consent — confirm this in advance.",{"step":382,"title":383,"description":384,"tip":385},8,"Retain a fully executed copy and file it securely","The guarantor should retain an original or certified copy of the signed guarantee. File it with your personal financial records and note the related debt's maturity date so you can confirm the guarantee is formally released upon repayment.","Diarize the loan or lease maturity date and follow up with the creditor for a written release within 30 days of final payment — do not assume the guarantee terminates automatically.",[387,391,395,399],{"mistake":388,"why_it_matters":389,"fix":390},"Signing an unlimited guarantee without attempting to negotiate a cap","An unlimited guarantee exposes every personal asset — home, savings, retirement accounts — to collection if the business defaults. The cap a creditor will accept is often negotiable, especially when the guarantor has other collateral to offer.","Before signing, propose a specific dollar cap equal to the initial loan or lease amount, or negotiate a burn-down schedule tied to the outstanding balance. Many commercial lenders will accept a partial limitation rather than lose the deal.",{"mistake":392,"why_it_matters":393,"fix":394},"Not reading whether the guarantee is 'continuing'","A continuing guarantee attaches to every future obligation the company incurs with the creditor — meaning a line of credit that is paid off and re-drawn repeatedly keeps the guarantor liable indefinitely, well beyond the original transaction.","If you intend to guarantee only a specific transaction, add explicit language limiting the guarantee to that transaction and its direct renewals, and excluding any new facilities or credit extensions.",{"mistake":396,"why_it_matters":397,"fix":398},"Failing to obtain a written release after the debt is repaid","Paying off the underlying loan or lease does not automatically discharge a continuing guarantee — a creditor could argue that future obligations reactivate it, leaving the guarantor exposed to liability they believed had ended.","Request a formal written release from the creditor within 30 days of final payment. Do not accept verbal assurances; the release must be signed by an authorized representative of the creditor.",{"mistake":400,"why_it_matters":401,"fix":402},"Ignoring spousal consent requirements","In community-property states (Arizona, California, Texas, Washington, and others), jointly held marital assets may be reachable by a creditor even if only one spouse signed the guarantee — unless a spousal consent or waiver is properly executed.","Confirm the marital property laws of your state of residence before signing. If community-property rules apply and marital assets are at stake, have a lawyer advise on whether a spousal consent addendum is required.",[404,407,410,413,416,419,422,425,428,431],{"question":405,"answer":406},"What is a personal guarantee?","A personal guarantee is a legally binding commitment by an individual — typically a business owner or company director — to be personally responsible for the debts or obligations of their company if the company fails to pay or perform. It converts a business obligation into a personal one, giving the creditor direct recourse against the guarantor's personal assets such as savings, investments, and real property.\n",{"question":408,"answer":409},"When is a personal guarantee required?","Creditors most commonly require a personal guarantee when the borrowing entity is a small business or newly formed company with limited credit history, minimal assets, or no established revenue. Banks typically require it for business loans and lines of credit. Landlords request it for commercial leases signed by an LLC or corporation. Suppliers may require it before opening net-terms trade accounts. In short, any time a creditor cannot rely solely on the company's balance sheet for repayment.\n",{"question":411,"answer":412},"What is the difference between a limited and an unlimited personal guarantee?","A limited personal guarantee caps the guarantor's liability at a specific dollar amount — for example, $150,000 or 12 months of lease payments. An unlimited personal guarantee covers the entire outstanding balance plus accrued interest, late fees, attorneys' fees, and collection costs, with no ceiling. Guarantors should always attempt to negotiate a limit; many creditors will accept a cap rather than lose the transaction.\n",{"question":414,"answer":415},"Does a personal guarantee affect my personal credit?","The guarantee itself does not appear as a tradeline on your personal credit report unless the creditor calls on it after a default. If the creditor pursues collection, obtains a judgment, or reports the delinquency, it can significantly damage your personal credit score. Some lenders perform a personal credit check at origination, which generates a hard inquiry. Review the creditor's disclosure carefully to understand what reporting they conduct.\n",{"question":417,"answer":418},"Can a personal guarantee be revoked?","A guarantee tied to a specific transaction cannot typically be revoked unilaterally after it is signed — the guarantor remains bound until the underlying debt is repaid and a formal release is issued. A continuing guarantee that covers future obligations may sometimes be revoked as to new obligations not yet incurred, depending on the contract language and applicable jurisdiction. Any revocation must be in writing and delivered to the creditor in accordance with the notice provisions of the guarantee.\n",{"question":420,"answer":421},"What happens when a personal guarantee is called?","When the company defaults on the underlying obligation, the creditor issues a written demand to the guarantor. The guarantor typically has a short window — often 5 to 15 business days — to pay the amount demanded. If the guarantor fails to pay, the creditor can pursue legal action, obtain a personal judgment, and execute against the guarantor's personal assets, including bank accounts, investment accounts, and real estate, subject to any exemptions under applicable state or provincial law.\n",{"question":423,"answer":424},"Are personal guarantees enforceable?","Personal guarantees are generally enforceable when properly executed — both parties have signed, the guarantor had legal capacity, and adequate consideration exists (typically the credit extended to the company). Courts have voided guarantees on grounds including fraud, duress, material misrepresentation by the creditor, and — in some jurisdictions — failure to explain the nature of the document to a guarantor who did not speak the language of the contract. Consider consulting a lawyer before signing any guarantee you do not fully understand.\n",{"question":426,"answer":427},"What personal assets can a creditor reach under a personal guarantee?","Subject to applicable exemptions, a creditor holding a judgment on a personal guarantee can typically reach bank and investment accounts, business interests, vehicles, and real property. Most jurisdictions protect a homestead exemption (ranging from $25,000 to unlimited depending on the state or province), retirement accounts up to certain limits, and basic personal property. The scope of collectible assets varies significantly by jurisdiction — a lawyer can advise on your specific exposure before you sign.\n",{"question":429,"answer":430},"Do I need a lawyer to sign a personal guarantee?","For a straightforward, single-transaction limited guarantee tied to a small business loan or standard commercial lease, a high-quality template reviewed carefully is often sufficient for most business owners. Engaging a lawyer is strongly advisable when the guarantee is unlimited, continuing, or covers a large obligation; when you are in a community-property state; when multiple guarantors are involved with joint-and-several liability; or when the creditor is presenting a heavily one-sided form agreement. A 1–2 hour lawyer review typically costs $300–$600 and can identify negotiating points that meaningfully reduce your personal exposure.\n",{"question":432,"answer":433},"What is the difference between a personal guarantee and an indemnity?","A personal guarantee is a secondary obligation — the guarantor promises to pay if the company fails to pay. An indemnity is a primary obligation — the indemnifier promises to cover the creditor's loss regardless of whether the company is liable. Indemnities are harder to defend against because the indemnifier cannot rely on defenses available to the principal debtor. Many commercial guarantee documents combine both, so review the exact wording rather than relying on the document title alone.\n",[435,439,443,447],{"industry":436,"icon_asset_id":437,"specifics":438},"Commercial Real Estate","industry-real-estate","Landlords routinely require a personal guarantee from the principals of LLC or corporate tenants, often capped at 12 to 24 months of base rent, as a condition of executing a commercial lease.",{"industry":440,"icon_asset_id":441,"specifics":442},"Banking and Lending","industry-fintech","SBA regulations require a personal guarantee from any individual owning 20% or more of a borrowing entity for all SBA 7(a) and 504 loans, with no dollar cap.",{"industry":444,"icon_asset_id":445,"specifics":446},"Wholesale and Distribution","industry-manufacturing","Suppliers extending net-30 or net-60 trade credit to new or small-business buyers frequently require a principal's personal guarantee to open the account and set the credit limit.",{"industry":448,"icon_asset_id":449,"specifics":450},"Franchising","industry-retail","Franchisors typically require franchisees to provide a personal guarantee covering royalty payments, marketing fund contributions, and lease obligations assigned from the franchisor.",[452,456,459,463],{"vs":453,"vs_template_id":454,"summary":455},"Corporate Guarantee","D{CORPORATE_GUARANTEE_ID}","A corporate guarantee is provided by a parent company or affiliate entity rather than by an individual, keeping the principals' personal assets out of the transaction. Creditors accept corporate guarantees when the guaranteeing entity has substantial assets and creditworthiness. A personal guarantee is required when the company itself — or its parent — lacks the credit profile to satisfy the creditor on its own.",{"vs":90,"vs_template_id":457,"summary":458},"promissory-note-D407","A promissory note is a direct, primary commitment by the borrower to repay a specific debt — the borrower and the obligor are the same party. A personal guarantee is a secondary obligation in which the guarantor backs up someone else's (the company's) debt. In most loan transactions, both documents are executed together: the note governs the debt, and the guarantee secures it against the individual.",{"vs":460,"vs_template_id":461,"summary":462},"Indemnity Agreement","indemnification-agreement-D12798","An indemnity agreement creates a primary obligation to cover another party's loss, independent of whether the indemnified party is at fault or liable. A personal guarantee is secondary — the guarantor is only called upon if the principal debtor defaults. Because indemnities are primary obligations, they are generally harder to contest and expose the indemnifier to broader liability than a guarantee.",{"vs":464,"vs_template_id":465,"summary":466},"Letter of Credit","D{LETTER_OF_CREDIT_ID}","A standby letter of credit is a bank instrument that guarantees payment to a creditor if specified conditions are met, without requiring the creditor to pursue the debtor first. A personal guarantee relies on an individual's personal creditworthiness and assets rather than a bank's. Letters of credit are more liquid for creditors but cost the applicant bank fees; personal guarantees cost nothing to issue but depend entirely on the guarantor's financial condition at the time of default.",{"use_template":468,"template_plus_review":472,"custom_drafted":476},{"best_for":469,"cost":470,"time":471},"Business owners providing a standard limited guarantee for a single loan or commercial lease where the liability cap is clearly defined","Free","20–30 minutes",{"best_for":473,"cost":474,"time":475},"Guarantors in community-property states, unlimited guarantees, or guarantees covering obligations above $250,000","$300–$600","1–3 days",{"best_for":477,"cost":478,"time":479},"Complex multi-party transactions, joint-and-several guarantees with multiple principals, or cross-border guarantees subject to multiple jurisdictions","$1,000–$3,500+","1–2 weeks",[481,486,491,496],{"code":482,"name":483,"flag_asset_id":484,"note":485},"us","United States","flag-us","Personal guarantee law varies by state. In community-property states — including Arizona, California, Nevada, and Texas — a creditor may be able to reach jointly held marital assets unless a spousal consent or waiver is executed. The SBA mandates personal guarantees from all 20%-or-greater owners for SBA 7(a) and 504 loans. Some states cap attorneys' fees recoverable under a guarantee, and homestead exemptions vary widely — from $25,000 in some states to unlimited in Florida and Texas.",{"code":487,"name":488,"flag_asset_id":489,"note":490},"ca","Canada","flag-ca","Guarantees are governed by provincial contract law, and several provinces — including Ontario — require guarantees to be evidenced in writing and signed by the guarantor to be enforceable. In Quebec, a guarantee (cautionnement) follows the Civil Code of Quebec and must not be for a greater amount than the principal obligation. Courts in Ontario and British Columbia have shown willingness to void guarantees where the creditor failed to explain the nature of the document to an unsophisticated guarantor.",{"code":492,"name":493,"flag_asset_id":494,"note":495},"uk","United Kingdom","flag-uk","Under the Statute of Frauds 1677, a guarantee must be in writing and signed by the guarantor to be enforceable in England and Wales. Courts distinguish carefully between guarantees (secondary obligations) and indemnities (primary obligations), as different defenses apply to each. The Unfair Contract Terms Act 1977 and consumer protection regulations may limit the enforceability of guarantee terms in consumer-facing contexts. Creditors extending guarantees to company directors in small businesses should take care to avoid undue influence claims.",{"code":497,"name":498,"flag_asset_id":499,"note":500},"eu","European Union","flag-eu","Guarantee law is primarily a matter of member state law, with significant variation across jurisdictions. In Germany, a personal guarantee (Bürgschaft) must be in writing under §766 BGB; courts have voided guarantees where the guarantor was a close family member with no economic interest in the transaction and the terms were financially devastating. In France, the Civil Code requires that the guarantor write out a specific handwritten statement acknowledging the nature and extent of their commitment. GDPR applies to the processing of the guarantor's personal financial data held by the creditor.",[502,461,503,504,505,506,507,508,509,510,511,512],"promissory-note-D434","loan-agreement-D417","lease-agreement-D1179","security-agreement-D915","business-credit-application-D247","adhesion-to-the-unanimous-shareholder-agreement-D848","llc-operating-agreement-D5209","non-disclosure-agreement-nda-D12692","letter-of-intent_acquisition-of-business-D5197","service-agreement-D12711","demand-letter-D13262",{"emit_how_to":200,"emit_defined_term":200},{"primary_folder":118,"secondary_folder":515,"document_type":516,"industry":517,"business_stage":518,"tags":519,"confidence":525},"guaranties-and-collateral","agreement","general","all-stages",[520,521,522,523,524],"guarantee","legal","personal-guarantee","collateral","lender-requirement",0.95,"\u003Ch2>What is a Personal Guarantee?\u003C/h2>\n\u003Cp>A \u003Cstrong>Personal Guarantee\u003C/strong> is a legally binding undertaking in which an individual — typically a business owner, director, or company principal — agrees to be personally liable for the debts and obligations of their company if the company itself fails to pay or perform. By signing a personal guarantee, the individual sets aside the liability protection that an LLC or corporation normally provides, giving the creditor direct recourse against personal assets such as bank accounts, investment portfolios, and real property. Lenders, landlords, and suppliers require personal guarantees when the borrowing entity lacks sufficient credit history, assets, or operating track record to satisfy the creditor on its own merits.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Whether you are the creditor requiring one or the business owner being asked to sign, a poorly drafted or misunderstood personal guarantee creates serious financial exposure. For creditors, an ambiguous guarantee — one that omits a continuing-guarantee clause, lacks a clear demand provision, or fails to specify governing law — can be difficult or impossible to enforce at the moment it matters most. For guarantors, signing without understanding whether the guarantee is limited or unlimited, whether it covers future obligations, or whether it can be released can result in personal liability that far exceeds what was originally contemplated. This template gives both parties a clear, structured starting point — identifying the parties and the underlying obligation precisely, setting out the scope of liability in plain terms, and including waiver, subrogation, and release clauses that reflect standard commercial practice. Using a properly prepared template reduces the risk of ambiguity, speeds up creditor review, and ensures the document holds up if enforcement becomes necessary.\u003C/p>\n",1778773569712]