The Personal Guarantee Loan Agreement is essential in German financial transactions where additional security is required for a loan through personal guarantees. This document is commonly used when a lender requires extra assurance beyond the borrower's commitment, typically in situations involving business loans, property financing, or corporate borrowing. The agreement must comply with German Civil Code (BGB) requirements, particularly regarding form requirements for both loan and guarantee provisions. Special attention must be paid to consumer protection laws if the guarantor is a private individual. The document sets out the loan terms, repayment schedule, and the scope of the guarantor's liability, while ensuring all statutory requirements for both the loan (Darlehen) and personal guarantee (B眉rgschaft) components are met. It's particularly relevant in scenarios where family members guarantee business loans or when companies require additional security for significant financial commitments.
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1. Parties: Identification of all parties: Lender, Borrower, and Guarantor(s), including full legal names and addresses
2. Background: Context of the loan agreement and guarantee, including the relationship between parties and purpose of the loan
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Terms: Principal amount, interest rate, term of loan, and repayment schedule
5. Guarantee Provisions: Scope of guarantee, nature of guarantor's obligations, and confirmation of understanding of liability
6. Representations and Warranties: Statements of fact by both borrower and guarantor regarding their capacity and authority
7. Payment Terms: Details of payment mechanics, including method, timing, and allocation of payments
8. Default Provisions: Events constituting default and consequences thereof
9. Enforcement: Rights and procedures for enforcing the guarantee
10. Notices: Communication requirements and contact details for formal notices
11. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction for disputes
12. Execution: Signature blocks and execution requirements
1. Consumer Protection Declarations: Required when guarantor is a consumer, including mandatory warnings and cooling-off rights
2. Security Interest Provisions: Used when additional security is provided alongside the personal guarantee
3. Multiple Guarantors: Required when more than one guarantor is involved, defining joint and several liability
4. Release Conditions: Optional terms specifying conditions under which the guarantee may be released
5. Assignment and Transfer: Include if parties want to allow for potential transfer of rights under the agreement
6. Bank Account Details: Optional section for specifying dedicated accounts for loan disbursement and repayment
7. Force Majeure: May be included to address extraordinary circumstances affecting performance
1. Repayment Schedule: Detailed amortization table showing payment dates and amounts
2. Form of Notice: Template for formal notices under the agreement
3. Guarantor's Statement of Assets: Declaration of guarantor's financial position at time of execution
4. Required Documents: List of supporting documents provided by borrower and guarantor
5. Specimen Signatures: Verified signatures of all parties for reference
6. Consumer Information Sheet: Mandatory information sheet if consumer protection laws apply
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Commercial Lending
Small and Medium Enterprises
Corporate Finance
Retail Banking
Private Banking
Construction
Manufacturing
Professional Services
Relevant Teams
Legal
Credit Risk
Commercial Banking
Compliance
Corporate Finance
Operations
Credit Administration
Documentation
Risk Management
Treasury
Relevant Roles
Credit Manager
Loan Officer
Legal Counsel
Compliance Officer
Risk Manager
Commercial Banking Manager
Corporate Finance Manager
Financial Advisor
Relationship Manager
Credit Analyst
Contract Administrator
Chief Financial Officer
Treasury Manager
Business Development Manager
Corporate Secretary
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