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Deed Of Release Of Guarantee

Deed Of Release Of Guarantee Template for Germany

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Key Requirements PROMPT example:

Deed Of Release Of Guarantee

"I need a Deed of Release of Guarantee under German law to release ABC GmbH as guarantor from their €2 million bank guarantee obligation to XYZ Bank, as the underlying loan has been fully repaid; the release should be effective from March 1, 2025."

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Document background
The Deed of Release of Guarantee is a crucial document in German business and financial transactions, used when a guarantor needs to be formally discharged from their guarantee obligations. This document is commonly required when the underlying debt has been repaid, when restructuring financial arrangements, or when replacing an existing guarantor. The deed must comply with German civil law requirements, particularly sections 765-778 of the Bürgerliches Gesetzbuch (BGB) governing guarantees. It's essential for risk management and financial restructuring, providing legal certainty to all parties involved. The document typically includes detailed information about the original guarantee, the reasons for release, any conditions precedent, and formal execution requirements that may include notarization.
Suggested Sections

1. Parties: Identification of all parties including the guarantor being released, the beneficiary of the guarantee, and the principal debtor

2. Background: Details of the original guarantee, including date, amount, and underlying obligation, plus reasons for the release

3. Definitions: Definitions of key terms used in the deed, including 'Guarantee', 'Release Date', and any defined payment or obligation terms

4. Release: The operative provisions releasing the guarantor from all obligations under the guarantee

5. Effective Date: Specification of when the release takes effect

6. Return of Original Guarantee: Provisions regarding the return or cancellation of the original guarantee document

7. Acknowledgments: Acknowledgment by all parties that the guarantee is being released and waiver of future claims

8. Governing Law: Confirmation that the deed is governed by German law

9. Execution: Formal execution blocks for all parties to sign, with required German notarization provisions

Optional Sections

1. Partial Release: Only needed if the release is for part rather than all of the guarantee obligations

2. Conditions Precedent: Include if the release is conditional upon certain events or payments

3. Surviving Obligations: Include if any obligations are to survive the release

4. Related Security Release: Include if there are related security interests that need to be released

5. Tax Provisions: Include if there are tax implications that need to be addressed

6. Confidentiality: Include if the parties wish to keep the release confidential

7. Costs: Include if there are specific provisions about who bears the costs of the release

Suggested Schedules

1. Original Guarantee: Copy of the original guarantee being released

2. Payment Details: If the release is conditional on payment, schedule containing payment amounts and bank details

3. Related Security Documents: List and copies of any related security documents affected by the release

4. Power of Attorney: If applicable, power of attorney documentation for any party signing on behalf of another

5. Corporate Authorizations: Copies of corporate resolutions or other authorizations for the release

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
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Relevant Industries

Banking and Financial Services

Corporate Finance

Real Estate

Construction

Manufacturing

Import/Export

Retail

Professional Services

Infrastructure

Energy

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Secretariat

Credit Control

Corporate Finance

Banking Operations

Governance

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Director

Chief Financial Officer

Risk Manager

Company Secretary

Treasury Manager

Credit Manager

Compliance Officer

Banking Relationship Manager

Corporate Finance Manager

General Counsel

Senior Legal Advisor

Financial Controller

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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