Guarantee Agreement
/ˈɡær.ən.ti əˌɡriː.mənt/
Definitions
- (n.) A legal contract where one party guarantees the performance or obligations of another party on a third party’s behalf.
The lender required a guarantee agreement to ensure repayment if the borrower defaulted.
Forms
- guarantee agreement
Related terms
See also
Commentary
Draft guarantee agreements clearly specify the obligations and scope of the guarantor's liability to avoid ambiguity in enforcement.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.