Businesses and individuals need indemnities and guarantees every day. Although agreements to add these to an existing contract are often regarded as difficult legal documents, the Net Lawman documents are as simple to understand as they are effective in law. These documents can be used to add a guarantee or indemnity for anything to any contract, from a loan agreement to a business sale agreement.
Guarantees and indemnities
Simple agreement where guarantor steps in to guarantee performance of any contract. Example contractor has problems; other party refuses payment or threatens to sue. Guarantor "rescues" first party by guaranteeing performance of the contract. Original contract is referenced, so remains unchanged. Applicable to any situation. Very easy way to record re-arrangement of a deal.
Simple agreement where guarantor steps into guarantee payment of a debt. One party has money problems. The other party refuses credit or refuses to continue his own contractual obligations. Guarantor "rescues" the first party by guaranteeing payment. Applicable to any situation where money is owed. Optional new terms suggested.
Professionally drawn cross guarantee for use by a company which seeks extra security before entering into a contract with a counter party. You have arranged for some other company or individual to guarantee performance of the contract by your counter party. Use at commencement of a new original contract or supplemental to an existing one. Option for changes to terms of main agreement. Strong legal protection. Applicable to any situation.
Professionally drawn cross guarantee to benefit a lender or other counter party dealing with to one or more members of a group of companies (or associated individuals). Each member of the group guarantees one or more loans or contracts made by one or more of the others. Could be at start of a new original contract or supplemental to an existing one. Option for changes to terms of main agreement. Strong protection for lender / counter party. Applicable to any situation.
This personal guarantee is the equivalent of the "PG" your bank might ask you to sign when storm clouds gather around your company. It is for use in any situation requiring an individual to guarantee the debt of a company, but most usually when the guarantor is a director. Applicable to any situation where money is owed. Suitable for use by lender or guarantor as it provides a wide range of options to produce a final version with high or very high level of lender security.
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