tiktok³ÉÈË°æ

The Joint Guarantee Agreement is essential in Malaysian commercial transactions where additional security is required for financial obligations. This document is commonly used when a creditor requires multiple parties to guarantee a debt or other obligations of a principal debtor, establishing joint and several liability among the guarantors. The agreement must comply with Malaysian law, particularly the Contracts Act 1950 and relevant banking regulations. It typically includes detailed provisions on the scope of guarantee, enforcement mechanisms, guarantor obligations, and creditor's rights. The document is particularly crucial in corporate financing, property development, and general commercial transactions where the creditor seeks to minimize risk by obtaining multiple guarantees.

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

2. Background: Sets out the context of the principal debt and why the guarantee is being given

3. Definitions: Defines key terms used throughout the agreement including 'Guaranteed Obligations', 'Security', and 'Event of Default'

4. Guarantee and Indemnity: Core section establishing the guarantee obligations and indemnity provisions

5. Joint and Several Liability: Establishes that guarantors are jointly and severally liable for the guaranteed obligations

6. Scope of Guarantee: Defines exactly what obligations are covered by the guarantee

7. Continuing Security: Confirms the guarantee is continuing and covers all present and future obligations

8. Creditor's Rights: Sets out the rights of the creditor including enforcement rights

9. Guarantor Representations: Warranties and representations given by the guarantors

10. Payment Provisions: Details of how and when payments must be made under the guarantee

11. Discharge and Release: Conditions for discharge of the guarantee and release of guarantors

12. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction for disputes