Joint Guarantee Agreement for Singapore
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Joint Guarantee Agreement
"Need a Joint Guarantee Agreement under Singapore law where three individual guarantors will jointly guarantee a S$2.5 million business loan to be taken by our subsidiary company from ABC Bank in March 2025."
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1. Parties: Details of the Creditor, Principal Debtor, and Guarantor(s)
2. Background: Context of the principal debt and reason for guarantee
3. Definitions: Key terms used throughout the agreement
4. Guarantee and Indemnity: Core obligations of the guarantor(s)
5. Nature of Guarantee: Continuing, joint and several nature of the guarantee
6. Guarantor's Obligations: Specific commitments and responsibilities
7. Duration and Discharge: Term of guarantee and conditions for release
8. Governing Law and Jurisdiction: Singapore law provisions and jurisdiction clauses
1. Security Provisions: Additional security arrangements when guarantee is secured by assets
2. Assignment: Rights to transfer or assign the guarantee when transfer rights are required
3. Currency Provisions: Handling of foreign currency obligations for cross-border transactions
4. Corporate Representatives: Authority of corporate signatories when guarantors are companies
1. Principal Agreement: Copy or details of the main agreement being guaranteed
2. Guaranteed Obligations: Detailed list of obligations covered by the guarantee
3. Form of Demand: Template for making demands under the guarantee
4. Corporate Authorizations: Required corporate approvals and resolutions for corporate guarantors
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