Document background
The Personal Guaranty Form is essential in Irish commercial and financial transactions where additional security is required for financial obligations. It is commonly used in business loans, property leases, and commercial contracts where one party seeks assurance of payment or performance through a third-party guarantee. The document must comply with Irish legislation, particularly the Statute of Frauds (Ireland) 1695 requiring written form, the Consumer Credit Act 1995 for consumer protection, and the Land and Conveyancing Law Reform Act 2009. This Personal Guaranty Form includes mandatory warnings, clear definition of obligations, enforcement provisions, and often requires independent legal advice certification. It's particularly relevant in situations involving small business loans, property leases, supplier contracts, and corporate financing where personal guarantees are required as additional security.
