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Guaranty Agreement

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Guaranty Agreement

File Type: Word        Price: $5.99         

                                                                             

Summary: A guaranty is a separate obligation to be held responsible for another's debt, default or failure to perform. A guaranty agreement is an independent contract, having three parties. The first party is the obligor or debtor, the second party is the party to whom the obligation is owed, and the third is the party which is guaranteeing the debt or performance of the Debtor, and is called the Guarantor. This guarantee agreement a basic guaranty agreement that may be used by a Creditor to cause a person or entity to guarantee the debt or performance of another. A Guaranty may be limited to a stated amount or particular performance. It may also be continuing if it covers ongoing transactions. A Guaranty is often requested by a Creditor when a Debtor lacks financial strength. For example, Creditors often request the principals or officers of a small or closely held corporation to guarantee the company's debts.

 

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Return On Investment: Save 1 to 2 hours over preparing this guaranty agreement yourself or having an attorney prepare.

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