Personal Guarantee Template

PERSONAL GUARANTEE

THIS DEED OF GUARANTEE is made on the [Day] day of [Month] [Year]

BETWEEN:

[Guarantor Full Name] of [Street Address], [State] [Postcode] (the Guarantor);

AND

[Creditor Company Name] ABN [ABN Number] of [Street Address], [State] [Postcode] (the Creditor);

WHEREAS:

1. The Creditor has agreed to provide credit and/or enter into a commercial agreement with [Borrower Company Name] ACN [ACN Number] (the Principal);

2. The Guarantor is a director of the Principal and wishes to guarantee the obligations of the Principal to the Creditor.

NOW THIS DEED WITNESSES that the Guarantor hereby covenants with the Creditor as follows:

1. GUARANTEE The Guarantor unconditionally and irrevocably guarantees to the Creditor the due and punctual payment, performance and observance of all monies, obligations and liabilities owing or incurred by the Principal to the Creditor (the Guaranteed Obligations).

2. LIMIT OF GUARANTEE [Choose one:] [(a) The liability of the Guarantor under this Guarantee is limited to the amount of $[Dollar Amount] (the Cap).] [(b) The liability of the Guarantor under this Guarantee is unlimited.]

3. CONTINUING SECURITY This Guarantee is a continuing security and shall remain in full force and effect until all Guaranteed Obligations have been paid in full and the Creditor releases the Guarantor in writing.

4. PAYMENT ON DEMAND If the Principal fails to pay any sum when due or breaches any agreement with the Creditor, the Creditor may demand payment from the Guarantor. The Guarantor must pay such sum on demand.

5. COSTS AND EXPENSES The Guarantor agrees to pay all costs and expenses (including legal costs on a solicitor and own client basis) incurred by the Creditor in enforcing or attempting to enforce this Guarantee.

6. INDEMNITY The Guarantor agrees to indemnify the Creditor against any loss, damage or liability suffered by the Creditor as a result of the Principal failing to meet its obligations.

7. GOVERNING LAW This Guarantee is governed by the laws of [State, e.g., New South Wales] and the parties submit to the non-exclusive jurisdiction of the courts of that State.

EXECUTED as a Deed

SIGNED SEALED AND DELIVERED

in the presence of:

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Witness Signature

Witness Name: ___________________

Witness Address: _______________

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[Guarantor Signature]

[Guarantor Full Name]

[Guarantor Address]