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Personal Guarantee Form

Personal Guarantee Form Template for Austria

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Key Requirements PROMPT example:

Personal Guarantee Form

"I need a Personal Guarantee Form under Austrian law for my company's 鈧500,000 business loan, where our CEO will act as guarantor, with the guarantee period starting from March 1, 2025, and including specific provisions for early termination if the company achieves certain financial milestones."

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Document background
The Personal Guarantee Form is a crucial legal instrument in Austrian business and financial transactions, used when additional security is required for financial obligations. It is commonly utilized in lending arrangements, commercial leases, and business contracts where one party seeks assurance of payment or performance through a third-party guarantee. The document must strictly comply with Austrian Civil Code (ABGB) requirements, particularly sections 1346-1367 governing guarantees (B眉rgschaft). Special considerations apply when the guarantor is a private individual, triggering specific consumer protection requirements under the Austrian Consumer Protection Act (KSchG). The form includes mandatory warnings, clearly defined obligations, and specific enforcement provisions, making it suitable for both commercial and private guarantee arrangements under Austrian law.
Suggested Sections

1. Parties: Identification of the Guarantor, the Creditor, and the Principal Debtor, including full legal names and addresses

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

3. Definitions: Key terms used in the guarantee agreement, including 'Guaranteed Obligations', 'Principal Debt', and 'Security Period'

4. Guarantee and Indemnity: Core provisions detailing the guarantee obligations, including the amount or limit of the guarantee

5. Scope of Guarantee: Specific details of what is being guaranteed, including whether it's a limited or unlimited guarantee

6. Duration: Term of the guarantee, including when it becomes effective and when it terminates

7. Guarantor's Representations: Declarations by the guarantor regarding their capacity and understanding of the obligations

8. Payment Obligations: Terms regarding how and when payments must be made under the guarantee

9. Enforcement: Conditions under which the guarantee can be enforced and the process for doing so

10. Governing Law and Jurisdiction: Confirmation of Austrian law as governing law and jurisdiction for disputes

Optional Sections

1. Consumer Protection Notice: Mandatory warning notices required when the guarantor is a private individual (required for private individuals, optional for commercial guarantors)

2. Principal Debtor's Consent: Section recording the principal debtor's acknowledgment of the guarantee (used when the principal debtor is party to the agreement)

3. Multiple Guarantors: Additional provisions for cases involving more than one guarantor, including joint and several liability

4. Security Rights: Provisions regarding any additional security rights granted to support the guarantee

5. Assignment and Transfer: Provisions allowing for the transfer or assignment of rights under the guarantee (typically included in commercial contexts)

6. Financial Covenants: Specific financial requirements or conditions applicable to the guarantor (typically used in commercial guarantees)

Suggested Schedules

1. Schedule 1 - Guaranteed Obligations: Detailed description of the obligations being guaranteed, including amounts, interest rates, and other terms

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

3. Schedule 3 - Financial Information: Details of the guarantor's financial position (where relevant for commercial guarantees)

4. Appendix A - Warning Notices: Mandatory consumer protection warnings in prescribed format (for private guarantors)

5. Appendix B - Principal Debt Documents: Copies or summaries of the underlying obligations being guaranteed

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 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

Financial Services

Real Estate

Construction

Manufacturing

Retail

Professional Services

Small Business

Corporate Finance

Insurance

Relevant Teams

Legal

Finance

Credit Control

Risk Management

Compliance

Commercial Operations

Corporate Banking

Business Development

Contracts Administration

Client Relations

Relevant Roles

Legal Counsel

Credit Manager

Risk Manager

Commercial Director

Finance Director

Compliance Officer

Banking Officer

Contract Manager

Chief Financial Officer

Corporate Lawyer

Lending Officer

Business Development Manager

Real Estate Manager

Account 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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