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The Lease Guarantee Agreement is essential in Singapore's property leasing landscape where landlords seek additional security for their lease arrangements. This document is typically used when a landlord requires extra assurance beyond the tenant's covenant, particularly in high-value commercial leases or when dealing with new businesses. The agreement outlines the guarantor's obligations, enforcement mechanisms, and the scope of the guarantee, all while complying with Singapore's legal requirements. It provides clear procedures for the landlord to claim against the guarantor in case of tenant default, making it a crucial risk management tool in property leasing.
