[{"data":1,"prerenderedAt":533},["ShallowReactive",2],{"document-unlimited-guaranty-D412":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":184,"customdescription":6,"mdFm":185,"mdProseHtml":532},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":25},"UNLIMITED GUARANTY FOR GOOD AND VALUABLE CONSIDERATION, and as an inducement for [YOUR COMPANY NAME] (the \"Company\"), to extend credit to [BORROWER] (the \"Borrower\"), the undersigned jointly and severally and unconditionally guarantee to Company the prompt and full payment of all sums now or hereinafter due company from Borrower.",null,"Unlimited Guaranty","1",26,"doc","https://templates.business-in-a-box.com/imgs/1000px/unlimited-guaranty-D412.png","https://templates.business-in-a-box.com/imgs/250px/412.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#412.xml",{"title":6,"description":6},[16,19,22],{"label":17,"url":18},"Finance & Accounting","/templates/finance-accounting/",{"label":20,"url":21},"Business Loans","/templates/business-loan/",{"label":23,"url":24},"Guaranties & Collateral","/templates/guaranties-collateral/","unlimited guaranty","Unlimited Guaranty Template","https://templates.business-in-a-box.com/imgs/400px/412.png",[29,16,19,22],{"label":30,"url":31},"Templates","/templates/",[33,34,37],{"label":30,"url":31},{"label":35,"url":36},"Legal Agreements","/templates/business-legal-agreements/",{"label":23,"url":38},"/templates/guaranties-and-collateral/",[40,44,48,52,56,60,64,68,72,76,80,84,88,107,122,137,152,170],{"label":41,"url":42,"thumb":43,"extension":10},"Unlimited Vacation 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Guaranty","/template/general-continuing-guaranty-D399","https://templates.business-in-a-box.com/imgs/250px/399.png",{"label":65,"url":66,"thumb":67,"extension":10},"Guaranty of a Lease","/template/guaranty-of-a-lease-D1177","https://templates.business-in-a-box.com/imgs/250px/1177.png",{"label":69,"url":70,"thumb":71,"extension":10},"Guaranty Agreement","/template/guaranty-agreement-D13699","https://templates.business-in-a-box.com/imgs/250px/13699.png",{"label":73,"url":74,"thumb":75,"extension":10},"Termination of Future Guaranty","/template/termination-of-future-guaranty-D301","https://templates.business-in-a-box.com/imgs/250px/301.png",{"label":77,"url":78,"thumb":79,"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":81,"url":82,"thumb":83,"extension":10},"Financial Support Agreement Regarding Guaranty of Obligation","/template/financial-support-agreement-regarding-guaranty-of-obligation-D876","https://templates.business-in-a-box.com/imgs/250px/876.png",{"label":85,"url":86,"thumb":87,"extension":10},"Security Policy","/template/security-policy-D12645","https://templates.business-in-a-box.com/imgs/250px/12645.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":17,"url":99},"finance-accounting",{"label":20,"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":111,"extension":10,"preview":112,"thumb":113,"svgFrame":114,"seoMetadata":115,"parents":117,"keywords":116,"url":121},"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","2",513,"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":116,"description":6},"loan agreement",[118,119,120],{"label":17,"url":99},{"label":20,"url":101},{"label":20,"url":101},"/template/loan-agreement-D417",{"description":123,"descriptionCustom":6,"label":124,"pages":125,"size":126,"extension":10,"preview":127,"thumb":128,"svgFrame":129,"seoMetadata":130,"parents":131,"keywords":135,"url":136},"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},[132,134],{"label":35,"url":133},"business-legal-agreements",{"label":35,"url":133},"security agreement","/template/security-agreement-D915",{"description":138,"descriptionCustom":6,"label":139,"pages":140,"size":111,"extension":10,"preview":141,"thumb":142,"svgFrame":143,"seoMetadata":144,"parents":146,"keywords":145,"url":151},"INDEMNIFICATION AGREEMENT This Indemnification Agreement (\"Agreement\") is effective as of [DATE], BETWEEN: [NAME OF THE INDEMNIFYING PARTY] (the \"Indemnifier\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE] with its head office located at: [YOUR COMPLETE ADDRESS] AND: [NAME OF THE INDEMNITEE] (the \"Indemnitee \"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, the Indemnitee seeks protection against any personal liability, claim, suit, action, loss, or damage that may result from the Indemnitee's participation in the Activity. WHEREAS, the Indemnifier seeks to minimize any hardship the Indemnitee might suffer as the result of any personal liability, claim, suit, action, loss, or damage that may result from the Indemnitee's participation in the Activity. NOW THEREFORE in consideration and as a condition of the Indemnifier and the Indemnitee entering into this Agreement and other valuable considerations, the receipt and sufficiency of which consideration is acknowledged, the Parties agree as follows: INDEMNIFIED ACTIVITY The Indemnitee seeks to be protected from the following indemnified activity (hereinafter referred to as the \"Activity\"): [SPECIFY ACTIVITY] INDEMNITY The Indemnifier agrees to indemnify and hold harmless the Indemnitee, its respective affiliates, officers, agents, employees, and permitted successors and assigns against any and all claims, losses, damages, liabilities, penalties, punitive damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever, which result from the Activity. EXCEPTIONS TO INDEMNIFICATION The Indemnifier shall not be obligated to indemnify the Indemnitee for any fines, expenses, judgments, settlements, and other obligations incurred as the result of the Indemnitee's participation in the Activity: In the case of a criminal proceeding; or In the case of a civil claim where the Indemnitee did not act in good faith and/or in a reasonable manner; or If the Indemnitee will or has received payment under a valid and collectible insurance policy or under a valid and enforcement indemnity clause, bylaw or agreement, except where payment under the insurance policy, clause, bylaw or agreement is not sufficient to fully indemnify the Indemnitee, in which case the Indemnifier will be responsible for any shortfall in the payment received; or If an action or proceeding was initiated in whole in or in part by the Indemnitee, whether alone or along with one or more other claimants, unless the action or proceeding has the written consent of the Indemnifier. NOTICE OF CLAIM In the event of any claim or action, the Indemnitee must promptly provide the Indemnifier with written notice of the claim or action and will notify the Indemnifier of any legal proceedings relating to the claim or action within [NUMBER OF DAYS] of the Indemnitee's receipt of notice of such proceedings. The Indemnitee must provide the Indemnifier with all known information available to the Indemnitee relating to the claim or action. COOPERATION ​ The Indemnitee agrees to wholly cooperate with the Indemnifier in the defence of any claim or action against it that the Indemnitee seeks to be indemnified for, including but not limited to, providing the Indemnifier with all available information related to the claim or action, responding to reasonable requests from the Indemnifier for information, documentation, and the like","Indemnification Agreement","4","https://templates.business-in-a-box.com/imgs/1000px/sample-doc-for-test-D13016.png","https://templates.business-in-a-box.com/imgs/250px/13016.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13016.xml",{"title":145,"description":6},"indemnification agreement",[147,148],{"label":35,"url":133},{"label":149,"url":150},"Release Agreements","release-agreement","/template/indemnification-agreement-D13016",{"description":153,"descriptionCustom":6,"label":154,"pages":155,"size":156,"extension":10,"preview":157,"thumb":158,"svgFrame":159,"seoMetadata":160,"parents":161,"keywords":168,"url":169},"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},[162,165],{"label":163,"url":164},"Real Estate","real-estate-business",{"label":166,"url":167},"Business Checklists","business-checklists","lease agreement","/template/lease-agreement-D1179",{"description":171,"descriptionCustom":6,"label":172,"pages":110,"size":111,"extension":10,"preview":173,"thumb":174,"svgFrame":175,"seoMetadata":176,"parents":178,"keywords":177,"url":183},"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.","Personal Guarantee","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":177,"description":6},"personal guarantee",[179,180,181],{"label":17,"url":99},{"label":20,"url":101},{"label":23,"url":182},"guaranties-collateral","/template/personal-guarantee-D405",false,{"seo":186,"reviewer":198,"legal_disclaimer":202,"quick_facts":203,"at_a_glance":205,"personas":209,"variants":234,"glossary":263,"clauses":296,"how_to_fill":347,"common_mistakes":388,"faqs":413,"industries":441,"comparisons":458,"diy_vs_lawyer":473,"jurisdictions":486,"related_template_ids_curated":507,"schema":519,"classification":520},{"meta_title":187,"meta_description":188,"primary_keyword":189,"secondary_keywords":190},"Unlimited Guaranty Template | Free Word Download","Free unlimited guaranty template for personal or corporate guarantee of all present and future debts. Download in Word, edit online, or export as PDF.","unlimited guaranty template",[191,192,193,194,195,196,197],"unlimited guarantee template","personal guaranty template","unlimited guaranty agreement","continuing guaranty template","personal guarantee form","unlimited guarantee form word","business loan guaranty template",{"name":199,"credential":200,"reviewed_date":201},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":204,"legal_review_recommended":202,"signature_required":202,"notarization_required":184},"advanced",{"what_it_is":206,"when_you_need_it":207,"whats_inside":208},"An Unlimited Guaranty is a legally binding contract in which a guarantor — typically a business owner, director, or parent company — personally or corporately agrees to repay all present and future debts and obligations of a principal debtor to a creditor, with no cap on the amount guaranteed. This free Word download gives you a fully structured, attorney-reviewed starting point you can edit online and export as PDF before execution.\n","Use it when a lender, landlord, or supplier requires a guarantor to back all obligations of a borrowing company before extending credit, a lease, or a supply arrangement. It is commonly required for small business loans, commercial leases, and vendor credit lines where the principal entity lacks sufficient credit history or assets on its own.\n","Identification of guarantor, principal debtor, and creditor; the unlimited scope of the guarantee covering all present and future obligations; waiver of notice and demand provisions; subordination of guarantor claims; representations and warranties; default and enforcement rights; governing law and dispute resolution; and signature blocks for all parties.\n",[210,214,218,222,226,230],{"title":211,"use_case":212,"icon_asset_id":213},"Small business owners","Personally guaranteeing a company loan or line of credit from a bank","persona-small-business-owner",{"title":215,"use_case":216,"icon_asset_id":217},"Commercial landlords","Requiring a principal's personal guarantee before signing a commercial lease","persona-landlord",{"title":219,"use_case":220,"icon_asset_id":221},"Lenders and creditors","Securing unlimited personal liability from a director before extending financing","persona-lender",{"title":223,"use_case":224,"icon_asset_id":225},"Corporate directors","Executing a guaranty demanded by a supplier as a condition of trade credit","persona-ceo",{"title":227,"use_case":228,"icon_asset_id":229},"Parent companies","Guaranteeing a subsidiary's obligations to enable it to access third-party financing","persona-startup-founder",{"title":231,"use_case":232,"icon_asset_id":233},"Franchise operators","Providing a franchisor or lender with a continuing guarantee covering all franchise obligations","persona-franchise-applicant",[235,239,243,247,251,255,259],{"situation":236,"recommended_template":237,"slug":238},"Guaranteeing a specific loan amount with a defined ceiling","Limited Guaranty","guaranty-D401",{"situation":240,"recommended_template":241,"slug":242},"Multiple guarantors each responsible for only their proportional share","Several Guaranty Agreement","guaranty-agreement-D13699",{"situation":244,"recommended_template":245,"slug":246},"Guaranteeing performance of contract deliverables rather than monetary debt","Performance Guarantee","performance-evaluation-D694",{"situation":248,"recommended_template":249,"slug":250},"Guaranteeing payment of a commercial lease by a corporate tenant","Lease Personal Guarantee","personal-guarantee-D405",{"situation":252,"recommended_template":253,"slug":254},"Short-term guarantee tied to a single transaction or invoice","Payment Guarantee Letter","late-payment-letter-D448",{"situation":256,"recommended_template":257,"slug":258},"Parent company guaranteeing a subsidiary's obligations under a supply agreement","Corporate Guarantee Agreement","guarantee-agreement-D5194",{"situation":260,"recommended_template":261,"slug":262},"Guaranteeing repayment of a promissory note executed by a third party","Guaranty of Promissory Note","security-agreement-and-promissory-note-D912",[264,267,270,273,276,278,281,284,287,290,293],{"term":265,"definition":266},"Guarantor","The individual or entity that agrees to repay the principal debtor's obligations to the creditor if the debtor fails to do so.",{"term":268,"definition":269},"Principal Debtor","The primary borrower or obligor whose debts and obligations are being guaranteed by the guarantor.",{"term":271,"definition":272},"Creditor","The lender, landlord, or supplier to whom the debts or obligations are owed and who holds the benefit of the guaranty.",{"term":274,"definition":275},"Continuing Guaranty","A guaranty that covers all current and future obligations of the principal debtor over time, rather than a single fixed transaction.",{"term":7,"definition":277},"A guaranty with no monetary cap, making the guarantor personally liable for the full extent of the debtor's obligations regardless of total amount.",{"term":279,"definition":280},"Waiver of Notice","A clause in which the guarantor gives up the right to receive formal notice of the debtor's default before the creditor can pursue the guarantor.",{"term":282,"definition":283},"Subrogation","The guarantor's right, after satisfying the debtor's obligation, to step into the creditor's position and pursue the debtor for reimbursement.",{"term":285,"definition":286},"Subordination","A provision in which the guarantor agrees that any claims it holds against the principal debtor rank below the creditor's claims in priority.",{"term":288,"definition":289},"Indemnity","A promise by the guarantor to compensate the creditor for losses suffered due to the debtor's failure to perform, sometimes treated as a broader obligation than a guaranty.",{"term":291,"definition":292},"Release of Guaranty","A formal document executed by the creditor discharging the guarantor from all further obligations under the guaranty agreement.",{"term":294,"definition":295},"Joint and Several Liability","When multiple guarantors each bear full individual responsibility for the entire guaranteed obligation, allowing the creditor to pursue any one of them for the full amount.",[297,302,307,312,317,322,327,332,337,342],{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Parties identification","Names and identifies the guarantor, principal debtor, and creditor with their full legal names, addresses, and entity types.","This Unlimited Guaranty ('Guaranty') is entered into as of [DATE] by [GUARANTOR FULL NAME] ('Guarantor'), in favor of [CREDITOR LEGAL NAME] ('Creditor'), with respect to the obligations of [PRINCIPAL DEBTOR LEGAL NAME] ('Debtor').","Using a trade name or shortened name instead of the registered legal entity name — if the guarantor's name does not match their government ID or corporate registration, enforcement can be challenged.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Scope of guarantee","Defines exactly what obligations are covered — all present and future debts, liabilities, and obligations of the debtor to the creditor, without any monetary ceiling.","Guarantor unconditionally and irrevocably guarantees to Creditor the full and punctual payment and performance of all obligations, debts, and liabilities of Debtor to Creditor, whether now existing or hereafter arising, of any nature whatsoever and in any amount ('Obligations').","Limiting the scope clause to a specific loan or agreement without realizing future obligations will not be covered — parties then dispute whether a new credit facility falls within the original guaranty.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Unconditional and continuing nature","States that the guaranty is absolute and continuous regardless of any changes to the underlying obligation, such as extensions, amendments, or forbearance agreements between the creditor and debtor.","This Guaranty is a continuing guaranty and shall remain in full force and effect until all Obligations have been paid and performed in full. The liability of Guarantor shall not be affected or impaired by any amendment, modification, waiver, or extension of any Obligation or underlying agreement.","Assuming the guaranty terminates when the original loan agreement expires — without an explicit release, the guaranty typically continues to cover any renewed or restructured debt.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Waiver of defenses and notices","The guarantor gives up standard defenses such as requiring the creditor to first pursue the debtor, notice of the debtor's default, and notice of changes to the underlying obligation.","Guarantor waives (a) notice of acceptance of this Guaranty; (b) notice of the creation of any Obligation; (c) notice of default by Debtor; (d) any right to require Creditor to proceed against Debtor before proceeding against Guarantor; and (e) all defenses based on suretyship or impairment of collateral.","Failing to include a waiver of the anti-deficiency defense in jurisdictions that have one — some states limit a creditor's ability to pursue a guarantor after a foreclosure sale unless the guarantor expressly waives this protection.",{"name":318,"plain_english":319,"sample_language":320,"common_mistake":321},"Representations and warranties","The guarantor confirms they have full legal capacity and authority to enter the guaranty, have reviewed the underlying debt documents, and are not entering the agreement under duress.","Guarantor represents and warrants that: (a) Guarantor has full legal capacity to execute this Guaranty; (b) this Guaranty constitutes a legal, valid, and binding obligation enforceable against Guarantor; (c) no consent or approval of any third party is required; and (d) Guarantor has independently reviewed the Obligations and the underlying agreement.","Omitting independent review language — a guarantor who claims they did not understand the underlying debt can sometimes argue lack of informed consent, particularly in consumer-protection jurisdictions.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Subordination of guarantor claims","Any money the guarantor is owed by the debtor is placed behind the creditor's claims — preventing the guarantor from collecting from the debtor in a way that reduces assets available to repay the creditor.","All indebtedness of Debtor to Guarantor, whether now existing or hereafter created, is hereby subordinated to the Obligations. Guarantor shall not accept any payment from Debtor on such subordinated indebtedness without the prior written consent of Creditor.","Skipping subordination entirely when the guarantor has made loans to the debtor — this allows the guarantor to drain the debtor's assets through repayment of intercompany loans before the creditor is paid.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"Default and enforcement","Specifies what constitutes a default triggering the creditor's right to demand payment from the guarantor, and what remedies the creditor may pursue — including immediate demand for the full amount.","Upon the occurrence of any default by Debtor in the payment or performance of any Obligation, Creditor may, at its sole discretion, demand immediate payment of all Obligations from Guarantor without first proceeding against Debtor or any collateral. Guarantor shall pay all amounts demanded within [X] business days.","Setting a demand notice period that is shorter than the guarantor's realistic ability to arrange funds — courts in some jurisdictions have treated unreasonably short demand windows as evidence of bad faith.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"Subrogation and indemnification","After the guarantor pays the creditor, the guarantor gains the right to be reimbursed by the debtor and to stand in the creditor's legal position against the debtor.","Upon full payment of the Obligations by Guarantor, Guarantor shall be subrogated to the rights of Creditor against Debtor. Debtor agrees to indemnify and reimburse Guarantor for all amounts paid to Creditor under this Guaranty, together with interest at [RATE] per annum.","Activating subrogation rights before all obligations are fully satisfied — a partial payment that triggers subrogation can interfere with the creditor's ability to enforce the remaining debt.",{"name":338,"plain_english":339,"sample_language":340,"common_mistake":341},"Governing law and dispute resolution","States which jurisdiction's law governs the guaranty and how disputes will be resolved — through courts, arbitration, or mediation.","This Guaranty shall be governed by and construed in accordance with the laws of the State of [STATE], without regard to conflicts of law principles. Any dispute arising hereunder shall be resolved by binding arbitration administered by [AAA/JAMS] in [CITY], except that Creditor may seek injunctive or other equitable relief in any court of competent jurisdiction.","Choosing a governing law state that has unusually guarantor-friendly defenses or anti-deficiency rules without realizing it — the governing law choice can significantly affect the creditor's enforcement options.",{"name":343,"plain_english":344,"sample_language":345,"common_mistake":346},"Entire agreement and severability","Confirms the guaranty is the complete agreement between the parties on the subject, and that if any clause is found unenforceable, the rest of the document remains valid.","This Guaranty constitutes the entire agreement of Guarantor with respect to the subject matter hereof and supersedes all prior representations and agreements. If any provision of this Guaranty is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.","Omitting severability language — if a court voids the waiver-of-defenses clause in a jurisdiction that restricts such waivers, the entire guaranty can collapse without a severability provision.",[348,353,358,363,368,373,378,383],{"step":349,"title":350,"description":351,"tip":352},1,"Identify all parties with full legal names","Enter the guarantor's full legal name (individual or registered entity), the principal debtor's registered legal name, and the creditor's full legal name. For individual guarantors, include the address matching government-issued ID.","Pull the debtor's exact legal name from its certificate of incorporation or registration — a mismatch of even a single word can be used to challenge enforcement.",{"step":354,"title":355,"description":356,"tip":357},2,"Define the scope of the guaranteed obligations","Confirm whether the guaranty is intended to cover only a specific credit facility or all present and future obligations. For an unlimited guaranty, ensure the scope clause uses broad language covering all debts of any nature without monetary ceiling.","If the creditor has multiple distinct credit products with the debtor, list each by agreement name and date in a schedule to prevent future scope disputes.",{"step":359,"title":360,"description":361,"tip":362},3,"Include the continuing and unconditional nature clause","State explicitly that the guaranty is continuing and will not be discharged by amendments, extensions, or forbearances to the underlying obligation. This clause protects the creditor if the loan is restructured after signing.","Have the guarantor initial this clause separately to acknowledge they reviewed and understood its significance — courts give greater weight to initialed provisions in disputes.",{"step":364,"title":365,"description":366,"tip":367},4,"Draft the waiver-of-defenses provision carefully","List each defense being waived — notice of default, requirement to exhaust remedies against the debtor, right of set-off, anti-deficiency protections. Jurisdiction-specific mandatory defenses cannot be waived, so confirm local law before finalizing.","In California, the guarantor must receive specific disclosures under Civil Code §2856 or the waiver of certain defenses is void — verify applicable state or provincial requirements before using a standard waiver.",{"step":369,"title":370,"description":371,"tip":372},5,"Complete the subordination block","If the guarantor has any outstanding loans or intercompany balances owed by the debtor, list them or describe them by category, and confirm they are subordinated to the creditor's claims.","Request a current intercompany balance statement from the debtor before signing — undisclosed guarantor-to-debtor loans that later surface can undermine the creditor's priority position.",{"step":374,"title":375,"description":376,"tip":377},6,"Set the default demand notice period","Specify the number of business days after a demand notice is sent in which the guarantor must pay. Typical commercial practice is 3–10 business days; very short windows may be challenged as unreasonable.","Match the demand notice period to the guarantor's realistic ability to liquidate assets or arrange bridge financing — an unenforceable notice period benefits no one.",{"step":379,"title":380,"description":381,"tip":382},7,"Confirm governing law and jurisdiction","Select the governing law state or country, confirm it is the creditor's preferred enforcement jurisdiction, and verify that the chosen jurisdiction does not impose statutory restrictions on the waiver provisions you have included.","If the guarantor is located in a different jurisdiction than the creditor, consider including a consent-to-jurisdiction clause so the guarantor cannot challenge venue.",{"step":384,"title":385,"description":386,"tip":387},8,"Execute before credit is extended","Both parties — and any witness or notary if required locally — must sign before the creditor advances any funds or extends the credit. Post-advance signatures require fresh consideration to be enforceable in most common-law jurisdictions.","Use a date-stamped electronic signature platform to create an immutable execution record and store the fully executed copy in a secure document repository.",[389,393,397,401,405,409],{"mistake":390,"why_it_matters":391,"fix":392},"Signing after credit is already extended","In common-law jurisdictions, a guaranty signed after the creditor has already extended credit may lack consideration, making restrictive covenants and waiver provisions unenforceable.","Always execute the guaranty before any funds are advanced or credit is extended. If timing requires a post-advance signature, document a new benefit — a credit limit increase or fee waiver — as fresh consideration at the time of signing.",{"mistake":394,"why_it_matters":395,"fix":396},"Omitting a release mechanism","Without a clear release clause, the guarantor may remain bound indefinitely, even after the debtor's obligations are fully repaid, creating lingering personal liability that cannot be confirmed as extinguished without litigation.","Include a clause requiring the creditor to provide a written release within a specified number of days after all obligations are satisfied, and give the guarantor the right to request a payoff statement at any time.",{"mistake":398,"why_it_matters":399,"fix":400},"Using a trade name instead of a registered legal entity name","A guaranty executed under a business trading name rather than the guarantor's legal name or registered corporate name can be challenged as failing to bind the correct legal person or entity.","Verify the guarantor's exact legal name from government-issued ID or a corporate registry search, and use that name verbatim in the parties block.",{"mistake":402,"why_it_matters":403,"fix":404},"Ignoring jurisdiction-specific waiver restrictions","Several US states — including California, Washington, and Arizona — restrict or require specific disclosures for waivers of guarantor defenses. An invalid waiver clause can void the waiver provisions in their entirety.","Review the mandatory guarantor-protection statutes in the governing jurisdiction before finalizing the waiver-of-defenses clause. Engage local counsel for guaranties covering real-estate-secured debt.",{"mistake":406,"why_it_matters":407,"fix":408},"Failing to subordinate intercompany loans","If the guarantor holds outstanding loans to the debtor and those are not subordinated, the guarantor can legally receive repayment from the debtor while the creditor's debt remains unpaid, draining assets the creditor expected to recover against.","Add an explicit subordination clause covering all present and future intercompany loans between the guarantor and debtor, and confirm current balances before execution.",{"mistake":410,"why_it_matters":411,"fix":412},"Treating an unlimited guaranty as interchangeable with a limited one","Guarantors sometimes sign an unlimited form believing it only covers the current credit facility, then face personal liability for subsequent credit lines, overdrafts, and obligations they never contemplated.","Before signing, the guarantor should obtain and review the full list of existing and potential future obligations of the debtor to the creditor, and negotiate a limited or capped guaranty if exposure beyond the current facility is not intended.",[414,417,420,423,426,429,432,435,438],{"question":415,"answer":416},"What is an unlimited guaranty?","An unlimited guaranty is a contract in which a guarantor — typically a business owner, director, or parent company — agrees to be personally or corporately liable for all present and future debts and obligations of a principal debtor to a creditor, with no cap on the total amount guaranteed. Unlike a limited guaranty, there is no ceiling on the guarantor's exposure. Creditors use it to ensure full recovery even if the debtor becomes insolvent.\n",{"question":418,"answer":419},"What is the difference between an unlimited guaranty and a limited guaranty?","A limited guaranty caps the guarantor's liability at a specific dollar amount or covers only a named transaction. An unlimited guaranty imposes no ceiling and typically covers all current and future obligations of the debtor to the creditor. Most commercial lenders and landlords prefer unlimited guaranties for small-business borrowers because they provide broader protection if the debtor's total exposure grows over time.\n",{"question":421,"answer":422},"Who typically signs an unlimited guaranty?","Majority shareholders, directors, or founders of small and medium-sized businesses most commonly sign unlimited personal guaranties when their company borrows from a bank, takes on a commercial lease, or applies for a trade credit line. Parent companies also execute unlimited guaranties to support subsidiary financing. The guarantor is almost always someone with significant control over the debtor entity.\n",{"question":424,"answer":425},"Can an unlimited guaranty be revoked?","In most jurisdictions, a continuing unlimited guaranty cannot be revoked unilaterally once existing obligations are outstanding. Some guaranty agreements include a revocation clause that allows the guarantor to give written notice revoking the guaranty for future obligations while remaining bound for all obligations already incurred. Without such a clause, full discharge typically requires the creditor to issue a written release after all obligations are satisfied.\n",{"question":427,"answer":428},"What happens to a guaranty if the principal debtor goes bankrupt?","A guaranty is independent of the debtor's bankruptcy. The creditor can typically demand full payment from the guarantor even while pursuing recovery in the debtor's insolvency proceedings. The guarantor's obligation to pay is not stayed by the debtor's bankruptcy in most jurisdictions. After paying the creditor, the guarantor typically becomes a creditor of the debtor's estate through subrogation rights.\n",{"question":430,"answer":431},"Does an unlimited guaranty need to be notarized?","In most common-law jurisdictions — including the US, Canada, and the UK — notarization is not required for a commercial guaranty to be enforceable. Some lenders and landlords require notarization as a procedural safeguard to confirm the guarantor's identity and voluntary execution. Real-estate- secured guaranties in some US states may require acknowledgment before a notary for recording purposes. Always check local requirements before finalizing execution mechanics.\n",{"question":433,"answer":434},"What defenses can a guarantor raise against enforcement?","Common defenses include: (1) the guaranty lacked consideration when signed; (2) the guarantor did not have legal capacity; (3) the creditor materially altered the underlying obligation without the guarantor's consent; (4) the creditor released or impaired collateral without preserving the guarantor's rights; and (5) the debt was discharged by the debtor's bankruptcy. Many of these defenses can be contractually waived in the guaranty document, which is why creditors include broad waiver-of-defenses clauses.\n",{"question":436,"answer":437},"Is an unlimited personal guaranty enforceable against a spouse's assets?","This depends heavily on jurisdiction and marital property law. In community-property states such as California, Texas, and Arizona, a guaranty signed by only one spouse may reach community assets. Some lenders require both spouses to sign to maximize reachable assets. In common-law property states and Canadian provinces, the guarantor's separate property is the primary target. Guarantors should obtain independent legal advice before signing to understand their family-asset exposure.\n",{"question":439,"answer":440},"How does an unlimited guaranty differ from an indemnity?","A guaranty is a secondary obligation — the guarantor's duty to pay arises only if the principal debtor fails. An indemnity is a primary obligation — the indemnitor is directly and independently liable regardless of whether the debtor could have paid. In practice, many unlimited guaranty agreements include an indemnity clause alongside the guaranty to close the gap in cases where the underlying debt is unenforceable against the debtor.\n",[442,446,450,454],{"industry":443,"icon_asset_id":444,"specifics":445},"Banking and commercial lending","industry-fintech","Banks routinely require unlimited personal guaranties from small-business borrowers before extending term loans, revolving credit facilities, or equipment financing where the business entity lacks sufficient standalone credit.",{"industry":447,"icon_asset_id":448,"specifics":449},"Commercial real estate","industry-construction","Landlords require unlimited guaranties from principals of corporate tenants to secure long-term commercial leases, ensuring rent and restoration obligations are recoverable even if the tenant entity is dissolved.",{"industry":451,"icon_asset_id":452,"specifics":453},"Manufacturing and wholesale distribution","industry-manufacturing","Suppliers extend trade credit lines to distributor customers on the basis of a director's unlimited guaranty, covering cumulative open invoices that can exceed the debtor's net worth over a single trade cycle.",{"industry":455,"icon_asset_id":456,"specifics":457},"Franchise operations","industry-retail","Franchisors and SBA lenders require franchisees to execute unlimited guaranties covering royalties, fees, build-out financing, and lease obligations for the full franchise term, which commonly runs 10–20 years.",[459,462,466,469],{"vs":237,"vs_template_id":460,"summary":461},"D{LIMITED_GUARANTY_ID}","A limited guaranty caps the guarantor's maximum liability at a fixed dollar amount or restricts coverage to a single named obligation. An unlimited guaranty imposes no ceiling and covers all present and future debts. Creditors prefer unlimited guaranties; guarantors negotiate for limited ones to control their personal exposure. Use a limited guaranty when the credit relationship is for a defined transaction and the guarantor will not be taking on ongoing liability.",{"vs":463,"vs_template_id":464,"summary":465},"Personal Guarantee (Lease)","D{PERSONAL_GUARANTEE_LEASE_ID}","A lease personal guarantee secures a specific real-estate lease obligation — rent, operating costs, and restoration costs — for a defined tenancy term. An unlimited guaranty typically covers all financial obligations across multiple products and agreements without restriction to a single lease. Use a lease-specific guarantee when the guarantor's exposure should be confined to the tenancy only.",{"vs":257,"vs_template_id":467,"summary":468},"D{CORPORATE_GUARANTEE_ID}","A corporate guarantee is executed by a legal entity — typically a parent or sister company — rather than an individual. An unlimited guaranty can be signed by either an individual or a corporation. The enforceability mechanics differ because corporate guarantors may be subject to insolvency clawback rules and board-authority requirements that do not apply to individual guarantors.",{"vs":470,"vs_template_id":471,"summary":472},"Indemnity Agreement","D{INDEMNITY_AGREEMENT_ID}","An indemnity agreement creates a primary, direct obligation to compensate the creditor for losses, independent of whether the debtor could have paid. A guaranty is secondary — triggered only by the debtor's failure. Many unlimited guaranty forms include an indemnity clause to close this gap, but a standalone indemnity is broader and does not require the creditor to establish the debtor's default first.",{"use_template":474,"template_plus_review":478,"custom_drafted":482},{"best_for":475,"cost":476,"time":477},"Standard domestic commercial guaranties for business loans or trade credit under $500K where both parties are commercially sophisticated","Free","20–30 minutes",{"best_for":479,"cost":480,"time":481},"Real-estate-secured guaranties, cross-border guaranties, or any guarantee exceeding $500K where jurisdiction-specific waiver rules are a concern","$300–$800","1–3 days",{"best_for":483,"cost":484,"time":485},"Complex multi-facility guaranties, regulated-lender requirements, guaranties involving trust or estate structures, or any guaranty where spousal or community-property exposure is a material risk","$1,500–$5,000+","1–2 weeks",[487,492,497,502],{"code":488,"name":489,"flag_asset_id":490,"note":491},"us","United States","flag-us","Guaranty enforceability is primarily governed by state law, and requirements vary significantly. California Civil Code §2856 requires specific written disclosures for waivers of guarantor defenses on real-estate-secured obligations. Arizona, Washington, and several other states have anti-deficiency statutes that limit creditor recovery after foreclosure, which a guaranty waiver must expressly address to be effective. The Uniform Commercial Code governs certain guaranty aspects related to negotiable instruments.",{"code":493,"name":494,"flag_asset_id":495,"note":496},"ca","Canada","flag-ca","Guaranties in Canada are governed provincially. Ontario's Statute of Frauds requires a guaranty to be in writing and signed to be enforceable. Several provinces impose a duty on creditors to disclose material information about the debtor's financial condition to the guarantor before signing. In Quebec, civil-law rules govern guaranties (called 'suretyship') and impose mandatory protections for sureties that cannot be contractually waived, making Quebec guaranty drafting distinct from common-law provinces.",{"code":498,"name":499,"flag_asset_id":500,"note":501},"uk","United Kingdom","flag-uk","Under the Statute of Frauds 1677, a guaranty must be in writing and signed by the guarantor to be enforceable. The Unfair Contract Terms Act 1977 and the Consumer Rights Act 2015 may apply where the guarantor is an individual acting outside a business context, potentially voiding unreasonable waiver clauses. Lenders regulated by the Financial Conduct Authority must follow additional responsible lending guidance when requiring personal guaranties from small-business owners.",{"code":503,"name":504,"flag_asset_id":505,"note":506},"eu","European Union","flag-eu","Guaranty law varies by member state, as there is no harmonized EU framework for commercial guaranties. France, Germany, and Spain each have distinct civil-code rules governing suretyship obligations. Germany's Civil Code (BGB) imposes strict formal requirements and proportionality rules on guaranties given by individuals. GDPR compliance is relevant when lenders process guarantor personal data as part of credit assessments and guaranty documentation workflows.",[508,509,510,511,512,250,513,514,515,516,517,518],"promissory-note-D434","loan-agreement-D417","security-agreement-D915","indemnification-agreement-D13016","lease-agreement-D1179","business-credit-application-D247","demand-for-extension-of-payment-date-D444","general-release-and-settlement-agreement-D12554","subordination-agreement-D423","certificate-of-corporate-resolution-D3","partnership-agreement-D12551",{"emit_how_to":202,"emit_defined_term":202},{"primary_folder":133,"secondary_folder":521,"document_type":522,"industry":523,"business_stage":524,"tags":525,"confidence":531},"guaranties-and-collateral","agreement","general","all-stages",[526,527,528,529,530],"liability","contract","guaranty","personal-guarantee","collateral",0.95,"\u003Ch2>What is an Unlimited Guaranty?\u003C/h2>\n\u003Cp>An \u003Cstrong>Unlimited Guaranty\u003C/strong> is a legally binding contract in which a \u003Cstrong>guarantor\u003C/strong> — typically a business owner, director, or parent company — unconditionally agrees to repay all present and future debts and obligations owed by a \u003Cstrong>principal debtor\u003C/strong> to a \u003Cstrong>creditor\u003C/strong>, with no cap on the total amount of liability assumed. Unlike a limited guaranty, which restricts exposure to a fixed dollar amount or a named transaction, an unlimited guaranty is continuing in nature: it covers every obligation the debtor incurs with the creditor over the life of the relationship, including future credit facilities, lease renewals, or supply arrangements that did not exist when the guaranty was signed. Creditors — banks, landlords, and trade suppliers — require this document when the debtor entity lacks the standalone credit strength to secure financing or contractual obligations on its own.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a properly executed unlimited guaranty, a creditor extending credit to a small or newly formed business has no direct recourse against the individuals or entities who control it if the business fails. The debtor entity may have few assets; in an insolvency, unsecured creditors frequently recover pennies on the dollar. An unlimited guaranty closes that gap by creating enforceable personal or corporate liability that survives the debtor's bankruptcy and can be enforced independently and immediately upon default. For guarantors, having a clearly drafted document is equally important: ambiguous scope language, missing release provisions, or unenforced subordination clauses can leave a guarantor liable for obligations they never intended to cover, or unable to prove their liability has been discharged after repaying the creditor in full. This template gives both creditors and guarantors a structured, attorney-reviewed starting point that reflects standard commercial practice — reducing enforcement disputes and protecting all parties from the consequences of an informally documented guarantee.\u003C/p>\n",1779480692607]