Promissory Notes

Unconditional Guarantee Agreement

Vicky Randolph Vicky Randolph
How To Use

This review list is provided to inform you about this document in question and assist you in its preparation. If you are a guarantor, you should request that the creditor first seek collection from the debtor. If you are forced to sign this agreement to obtain a loan by the debtor, usually the debtor has such bad credit that you may be forced to come up with the guarantee amount. Be so warned.

  1. Make multiple copies. Give one to each related party.

Unconditional Guarantee Agreement

___________________________________, referred to as Guarantor, hereby guarantees the payment to ___________________________________, referred to as to the Obligee of: any and all obligations, regardless of the kind, or how the same arose, that may now exist or may accrue in the future, of ________________________________, regardless of the amount. THIS IS AN UNLIMITED CONTINUING GUARANTEE.

GENERAL TERMS

The Guarantor waives: diligence by ______________________ in collection of any indebtedness or other obligation guaranteed herein; notice of nonpayment, protest, notice of protest or other such notice;

The Obligee may: grant renewals, extensions or modifications of the obligation or indebtedness; surrender or release any and all security or collateral; release co-guarantors if any; without affecting the Guarantors obligations herein.

The Obligee shall not have to: first institute suit against ____________________________ prior to demanding payment under this guarantee; exhaust any remedies it may have against _____________________________; give notice of acceptance of this guarantee; and may in its discretion seek to enforce this guarantee solely against Guarantor.

Should there be any additional guarantor of the obligations of _______________________________, whether in whole or in part, this guarantee shall not be affected by the death, release, or insolvency of any other guarantor.

READ CAREFULLY. THIS IS AN AGREEMENT TO GUARANTEE THE DEBTS OF ANOTHER. THIS MEANS THAT YOU MAY HAVE TO PAY THE WHOLE DEBT OR OBLIGATION OF _____________________________.

The guarantor may revoke this guarantee upon written notice to the Obligee; however, such revocation shall not affect the liability accrued to that date, if any.

This is the entire agreement of the parties and this agreement may only be modified by a written agreement executed by both parties.

______________________
Dated

______________________________
Guarantor

cc Debtor