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Personal Guarantee Agreement

Personal Guarantee Agreement Template for Germany

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Key Requirements PROMPT example:

Personal Guarantee Agreement

"I need a Personal Guarantee Agreement under German law for a commercial loan of €500,000, where I as the CEO will personally guarantee my company's loan obligations to Deutsche Bank, to be effective from March 1, 2025."

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Document background
The Personal Guarantee Agreement is a crucial document in German business and financial transactions, commonly used when additional security is required for loans, leases, or other financial obligations. It must strictly comply with German Civil Code (BGB) requirements, particularly regarding form and content. The agreement is frequently used in banking, real estate, and commercial contexts, but requires careful consideration of consumer protection laws when individuals provide guarantees, especially following landmark decisions by the German Constitutional Court regarding guarantees by family members. The document typically includes detailed provisions on the scope of the guarantee, enforcement mechanisms, and risk disclosures, and must be executed in writing to be valid under German law. Special attention must be paid to ensuring the guarantor fully understands their obligations and the potential risks involved.
Suggested Sections

1. Parties: Identification of the Guarantor (Bürge), the Creditor (Gläubiger), and reference to the Principal Debtor (Hauptschuldner)

2. Background: Context of the guarantee, including reference to the underlying debt or obligation being guaranteed

3. Definitions: Key terms used in the agreement, including 'Guaranteed Obligations', 'Enforcement Event', and other relevant definitions

4. Guarantee: Core guarantee provisions, scope of the guarantee, and nature (e.g., whether it's a absolute guarantee or deficiency guarantee)

5. Extent of Liability: Clear specification of the maximum amount guaranteed and any limitations on the guarantor's liability

6. Representations and Warranties: Guarantor's confirmations regarding their capacity, understanding of obligations, and financial situation

7. Payment Obligations: Terms for making payments under the guarantee, including timing and method

8. Enforcement: Conditions for enforcing the guarantee and the process to be followed

9. Duration: Term of the guarantee and conditions for termination

10. Notices: Process for formal communications between parties

11. Governing Law and Jurisdiction: Confirmation of German law governance and jurisdiction for disputes

Optional Sections

1. Independent Guarantee: Section declaring the guarantee as independent from the main obligation (required only for 'selbständige Garantie')

2. Multiple Guarantors: Additional provisions needed when there is more than one guarantor

3. Security: Provisions regarding any additional security provided to support the guarantee

4. Assignment and Transfer: Terms governing the transfer of rights under the guarantee (if transferability is desired)

5. Financial Covenants: Financial maintenance requirements for the guarantor (typically used in commercial contexts)

6. Tax Gross-Up: Provisions for tax treatment of payments under the guarantee

7. Acknowledgment of Independent Legal Advice: Confirmation that the guarantor has received independent legal advice (recommended for personal guarantees)

Suggested Schedules

1. Schedule 1 - Guaranteed Agreement: Copy or key terms of the underlying agreement being guaranteed

2. Schedule 2 - Form of Demand: Template for making a formal demand under the guarantee

3. Schedule 3 - Guarantor's Asset Statement: Declaration of the guarantor's financial situation (where required)

4. Appendix A - Risk Disclosure: Detailed explanation of the risks associated with providing the guarantee

5. Appendix B - Contact Details: Contact information for all parties and their authorized representatives

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

Commercial Lending

Small and Medium Enterprises

Corporate Finance

Construction

Manufacturing

Retail

Professional Services

Technology

Relevant Teams

Legal

Finance

Risk Management

Compliance

Credit Administration

Commercial

Treasury

Corporate Banking

Business Development

Operations

Relevant Roles

Legal Counsel

Finance Director

Credit Manager

Risk Manager

Commercial Director

Compliance Officer

Corporate Lawyer

Banking Manager

Chief Financial Officer

Contract Manager

Legal Director

Treasury Manager

Account Manager

Business Development 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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