The Guarantee And Collateral Agreement is a crucial document in Nigerian commercial and financial transactions where additional security is required to support borrowing or other financial obligations. It is commonly used in various business contexts, from corporate lending to project finance, where a third party (guarantor) not only provides a personal guarantee but also pledges specific assets as collateral. The agreement must comply with Nigerian secured transactions laws, particularly the Secured Transactions in Movable Assets Act 2017 and the Companies and Allied Matters Act 2020. This document combines two security mechanisms: a personal guarantee and a grant of security interests over specific assets, providing the beneficiary with multiple routes to recover the secured obligations. It is essential for transactions requiring robust security arrangements and is particularly important in the Nigerian business environment where secured lending practices are increasingly sophisticated.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identification of the Guarantor, Principal Debtor, and Beneficiary/Secured Party
2. Background: Context of the underlying obligation and purpose of the guarantee and security arrangement
3. Definitions and Interpretation: Definitions of key terms and interpretation rules, including Nigerian law-specific terms
4. Guarantee: Scope and nature of the guarantee obligations, including whether continuing guarantee
5. Security Interest: Creation and terms of the security interest over the collateral
6. Representations and Warranties: Guarantor's representations regarding authority, ownership of collateral, and compliance with Nigerian law
7. Covenants: Ongoing obligations regarding maintenance and preservation of collateral
8. Registration and Perfection: Requirements for registration under STMA Act and other applicable Nigerian laws
9. Events of Default: Circumstances constituting default and triggering enforcement rights
10. Enforcement: Rights and remedies upon default, including power of sale and appointment of receivers
11. Payments and Recovery: Terms for payment, currency, and recovery of guaranteed amounts
12. Indemnity: Guarantor's indemnification obligations
13. Power of Attorney: Appointment of secured party as attorney for perfection and enforcement
14. Assignment and Transfer: Rights to assign or transfer the guarantee and security interests
15. Notices: Process for giving notices under the agreement
16. Governing Law and Jurisdiction: Nigerian law as governing law and jurisdiction for disputes
1. Multiple Guarantors: Additional provisions for joint and several liability when there are multiple guarantors
2. Currency Provisions: Detailed provisions for cross-border transactions involving foreign currency
3. Tax Gross-up: Provisions for tax implications and gross-up requirements
4. Further Assurance: Obligations to execute additional documents for offshore collateral
5. Security Trust: Provisions for appointment of security trustee in syndicated arrangements
6. Islamic Finance Compliance: Additional provisions for Sharia-compliant transactions
7. Corporate Guarantor Provisions: Specific provisions required for corporate guarantors under CAMA
1. Schedule 1 - Collateral Description: Detailed description of all assets comprising the collateral
2. Schedule 2 - Form of Notice: Standard forms for notices to be given under the agreement
3. Schedule 3 - Perfection Requirements: Specific actions required for perfection of security interests
4. Schedule 4 - Required Registrations: List of all required registrations under Nigerian law
5. Schedule 5 - Existing Security Interests: Details of any existing security interests affecting the collateral
6. Appendix A - Form of Transfer Certificate: Standard form for transferring rights under the agreement
7. Appendix B - Power of Attorney: Form of power of attorney for execution in Nigeria
Find the exact document you need
Lease Of Real Estate With Guarantee & Indemnity
A Nigerian law-governed real estate lease agreement incorporating guarantee and indemnity provisions to secure tenant obligations.
Download
Personal Guarantor Form
A Nigerian law-governed document where a guarantor assumes responsibility for another party's financial obligations, commonly used in lending and business transactions.
Download
Personal Guarantor Agreement Form
A Nigerian law-governed agreement where a guarantor commits to fulfill another party's financial obligations in case of default.
Download
Loan Guarantor Agreement Form
A Nigerian law-governed agreement where a guarantor assumes responsibility for a borrower's loan obligations in case of default.
Download
Guaranty Of Lease Agreement
A Nigerian law-governed agreement where a guarantor assumes responsibility for a tenant's lease obligations in case of default.
Download
Rental Guarantee Form
A Nigerian legal document where a guarantor commits to covering a tenant's rental obligations, compliant with Nigerian federal and state property laws.
Download
Performance Guarantee Agreement
A Nigerian law-governed agreement where a guarantor assures the performance obligations of a principal debtor to a beneficiary, subject to Nigerian banking and financial regulations.
Download
Payment Guarantee Agreement
A Nigerian law-governed agreement where a guarantor undertakes to fulfill specified payment obligations of a debtor to a beneficiary if the debtor defaults.
Download
Joint Guarantee Agreement
A Nigerian law agreement where multiple guarantors jointly and severally guarantee a principal debtor's obligations to a beneficiary.
Download
Guarantee Rental Agreement
A Nigerian law-governed agreement where a guarantor provides security for a tenant's obligations under a rental agreement, including rent payments and other specified duties.
Download
Guarantee And Collateral Agreement
A Nigerian law-governed agreement combining guarantee obligations with security arrangements over collateral to secure a principal debtor's obligations.
Download
Corporate Guarantee Agreement
A Nigerian law-governed agreement where a corporate entity guarantees the obligations of another party to a creditor.
Download
Personal Guaranty Agreement
A Nigerian law-governed agreement where a guarantor assumes responsibility for another party's financial obligations to a creditor.
Download
Guarantor Indemnity Agreement
A Nigerian law-governed agreement where a guarantor commits to fulfilling another party's obligations and provides indemnity protection to the beneficiary.
Download
Guarantor Tenancy Agreement
A Nigerian law-governed agreement establishing a tenancy with guarantor security, defining the rights and obligations of landlord, tenant, and guarantor.
Download
Personal Guarantee Promissory Note
A Nigerian law-governed document combining a promissory note with a personal guarantee, establishing primary debt obligation and secondary guarantee for payment assurance.
Download
Personal Guarantee Letter
A Nigerian law-governed document where an individual guarantees to fulfill another party's financial obligations if they default.
Download
Loan Guarantor Agreement
A Nigerian law-governed agreement where a guarantor commits to fulfilling a borrower's loan obligations to a lender in case of default.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it