- Length:7 pages (1650 words)
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About this document
This professionally drawn agreement provides for one or more companies to guarantee the obligations of one or more other companies even if they are not members of the same group. What is more, this agreement is not drawn to cover not only a loan/debt situation, but any contract. It gives strong protection for the lender / party on the other side.
This arrangement could be made at start of a new contract or be supplemental to an existing one.
The document also provides options for changes to the terms of the original agreement.
Applicable to any situation, even if one or more of the companies is abroad.
This deed of inter-company cross guarantee may be signed as a deed, or as a simple agreement under hand, as the notes explain.
The law in this document
There is no modern statute law relating to guarantees. This document is based on contract common law.
In these examples, the guarantee is for performance of a contract. If you are looking for a cross guarantee agreement for a contract debt only, look at Deed of inter-group guarantee of loan.
Net Lawman offers other document templates related to new guarantees at Guarantees and Indemnities.
Application and main features
- Warranties and interpretation
- The guarantees
- Continuing liability
- Changed terms of original agreement
- Lender’s right to assign
- Rights waived
- Other necessary legal provisions