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Joint Guarantee Agreement

Joint Guarantee Agreement Template for Australia

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Key Requirements PROMPT example:

Joint Guarantee Agreement

"I need a Joint Guarantee Agreement for three individual guarantors to secure a $2.5M business loan for our Perth-based construction company, with the guarantee to be limited to 150% of the loan amount and to include requirements for independent legal advice."

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Document background
A Joint Guarantee Agreement is essential in situations where additional security is required for significant financial obligations under Australian law. This document is commonly used in commercial lending, property development, and business financing where the creditor requires extra assurance beyond the principal debtor's covenant. The agreement details the guaranteed obligations, the nature and extent of the guarantors' liability, and the circumstances under which the guarantee can be enforced. It includes specific provisions required by Australian legislation and common law principles, such as requirements for independent legal advice and statutory warranties. The document is particularly relevant when dealing with corporate groups, family businesses, or substantial commercial transactions where multiple parties are willing to support the principal debtor's obligations.
Suggested Sections

1. Parties: Identifies the creditor, principal debtor, and all guarantors

2. Background: Sets out the context of the guarantee, including the underlying debt or obligation being guaranteed

3. Definitions: Defines key terms used throughout the agreement

4. Guarantee and Indemnity: Core provisions setting out the guarantee obligations and indemnity

5. Nature of Guarantee: Specifies that the guarantee is joint and several, continuing, and unconditional

6. Extent of Liability: Defines the scope and limitations of guarantors' liability

7. Guarantors' Obligations: Details specific obligations and responsibilities of the guarantors

8. Creditor's Rights and Powers: Outlines the rights of the creditor in enforcing the guarantee

9. Representations and Warranties: Guarantors' confirmations about their capacity and understanding

10. Preservation of Rights: Provisions ensuring guarantee remains effective despite various events

11. Payments: Terms regarding how and when payments must be made

12. Expenses and Stamp Duty: Allocation of costs and duties

13. Notices: Communication requirements and procedures

14. General Provisions: Standard boilerplate clauses including governing law and jurisdiction

Optional Sections

1. Security: Include when guarantee is secured against specific assets

2. Priority and Subordination: Include when there are multiple creditors or security interests

3. Guarantee Limit: Include when guarantors' liability is capped at a specific amount

4. Independent Legal Advice: Include when guarantors are individuals or small businesses

5. Power of Attorney: Include when creditor requires power to execute documents on guarantors' behalf

6. GST: Include when guaranteed obligations may involve GST payments

7. Financial Covenants: Include when guarantors must maintain specific financial positions

8. Confidentiality: Include when sensitive commercial information is involved

Suggested Schedules

1. Schedule 1 - Guarantors: Details of all guarantors including addresses and contact information

2. Schedule 2 - Guaranteed Obligations: Detailed description of the obligations being guaranteed

3. Schedule 3 - Security Details: Description of any security provided under the guarantee

4. Schedule 4 - Guarantee Limitation: Details of any caps or limitations on liability

5. Appendix A - Independent Legal Advice Certificates: Certificates from lawyers confirming advice given to guarantors

6. Appendix B - Corporate Authority Documentation: Required when guarantors are companies, including board resolutions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions












































Clauses

































Relevant Industries

Banking and Financial Services

Real Estate and Property Development

Construction

Manufacturing

Retail

Professional Services

Mining and Resources

Agriculture

Infrastructure

Technology and Software

Relevant Teams

Legal

Finance

Risk Management

Compliance

Commercial Banking

Credit Assessment

Corporate Advisory

Business Development

Treasury

Operations

Relevant Roles

Legal Counsel

Commercial Lawyer

Finance Manager

Credit Manager

Risk Manager

Commercial Banking Manager

Corporate Lawyer

Compliance Officer

Contract Administrator

Chief Financial Officer

Company Secretary

Banking Relationship Manager

Credit Risk Officer

Legal Director

Transaction Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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