PERSONAL GUARANTEE

THIS GUARANTEE is made as of [DATE], by [GUARANTOR NAME] of [ADDRESS] ("Guarantor") in favour of [CREDITOR/LENDER NAME] ("Creditor").

1. GUARANTEE

The Guarantor hereby unconditionally and irrevocably guarantees to the Creditor the full and punctual payment and performance of all obligations (the "Obligations") of [DEBTOR/BUSINESS NAME] ("the Debtor") to the Creditor, including:

• The principal sum of $[AMOUNT] (or all sums owing under the [AGREEMENT/LOAN] dated [DATE]).
• Interest, fees, and costs.
• [OTHER OBLIGATIONS].

2. NATURE OF GUARANTEE

1. This is a continuing guarantee covering all present and future Obligations.
2. This is a joint and several guarantee if there is more than one Guarantor.
3. The Guarantor's liability is primary — the Creditor may proceed against the Guarantor without first pursuing the Debtor.
4. The Guarantor waives:
   • Presentment, demand, and protest.
   • Notice of default, non-payment, or acceptance of this Guarantee.
   • Any requirement that the Creditor proceed against the Debtor first.
   • Any defence available to the Debtor.

3. MAXIMUM LIABILITY (IF LIMITED)

• [ ] Unlimited.
• [ ] The Guarantor's liability shall not exceed $[AMOUNT].

4. DURATION

• This Guarantee remains in effect until all Obligations are paid in full and is binding on the Guarantor's estate.
• [ ] This Guarantee terminates on [DATE] for obligations incurred after that date.

5. CREDITOR'S RIGHTS

The Creditor may, without notice to the Guarantor and without releasing the Guarantor:

1. Extend the time for payment.
2. Modify the terms of any agreement with the Debtor.
3. Compromise or settle with the Debtor.
4. Release other guarantors or security.

6. SUBROGATION

The Guarantor shall not be subrogated to any rights of the Creditor until all Obligations are paid in full.

7. DEFAULT

Upon default by the Debtor, the Creditor may demand payment from the Guarantor, who shall pay within [NUMBER] days of demand.

8. INDEMNITY

The Guarantor agrees to indemnify the Creditor for all costs (including legal fees) incurred in enforcing this Guarantee.

9. GENERAL

• Governing Law: [JURISDICTION]
• Assignment: The Creditor may assign this Guarantee.
• Severability: If any provision is unenforceable, the rest remains valid.
• This Guarantee is in addition to, not in substitution for, any other security.

Guarantor: _______________________ Date: __________

Creditor: _______________________ Date: __________

Witness: _______________________ Date: __________

NOTE: A personal guarantee exposes the guarantor's personal assets. Obtain independent legal advice before signing.