Affidavit Of Guarantee Template for Austria

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Key Requirements PROMPT example:

Affidavit Of Guarantee

"I need an Affidavit of Guarantee in German and English for my company to guarantee a €2.5 million business loan from Austrian Bank AG to our subsidiary, with the guarantee period running until March 2025."

Document background
The Affidavit of Guarantee (Eidesstattliche Garantieerklärung) is a crucial legal instrument in Austrian business and financial transactions. It is commonly required when one party needs additional security for obligations undertaken by another party, such as in loan agreements, lease contracts, or business transactions. The document combines the formality of an affidavit with the binding nature of a guarantee under Austrian law, requiring strict compliance with the Austrian Civil Code (ABGB) and notarial regulations. This type of document is particularly important as it provides enhanced security due to its sworn nature and formal execution requirements. It must contain specific declarations about the guaranteed obligations, the guarantor's capacity, and acknowledgment of legal consequences, making it a powerful tool for risk mitigation in commercial relationships.
Suggested Sections

1. Title and Date: Formal title 'Affidavit of Guarantee' (Eidesstattliche Garantieerklärung) and date of execution

2. Deponent Details: Full legal name, address, and identification details of the person making the guarantee (guarantor)

3. Beneficiary Details: Full legal name and address of the party receiving the guarantee

4. Principal Debtor Details: Full legal name and address of the party whose obligations are being guaranteed

5. Recitals: Background information explaining the context and purpose of the guarantee

6. Guaranteed Obligations: Precise description of the obligations being guaranteed, including amounts, duration, and conditions

7. Scope of Guarantee: Clear statement of whether it's a limited or unlimited guarantee, and any specific limitations or conditions

8. Declaration Under Oath: Formal statement confirming the truth of the declarations and understanding of obligations

9. Governing Law: Explicit statement that the guarantee is governed by Austrian law

10. Execution Block: Space for signature, date, and notary authentication

Optional Sections

1. Guarantee Period: Include when the guarantee has a specific duration or expiry date

2. Demand Procedures: Include when specific procedures for making demands under the guarantee need to be detailed

3. Financial Capacity Statement: Include when guarantor needs to declare their financial capacity to honor the guarantee

4. Counter-Indemnity: Include when there are arrangements for the guarantor to be indemnified by other parties

5. Consumer Protection Notice: Include when the guarantor is a consumer under Austrian law

6. Release Conditions: Include when specific conditions for releasing the guarantee need to be detailed

Suggested Schedules

1. Principal Obligation Document: Copy of the underlying agreement or obligation being guaranteed

2. Identification Documents: Certified copies of identification documents of the guarantor

3. Financial Statements: If required, recent financial statements or proof of financial capacity of the guarantor

4. Power of Attorney: If applicable, documentation authorizing the guarantor to provide the guarantee

5. Translation Certificate: If document is bilingual or requires certified translation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Banking and Financial Services

Real Estate

Construction

Manufacturing

Retail

Professional Services

Import/Export

Technology

Infrastructure

Energy

Telecommunications

Healthcare

Relevant Teams

Legal

Finance

Risk Management

Compliance

Treasury

Credit Management

Corporate Secretariat

Business Development

Operations

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Director

Chief Financial Officer

Risk Manager

Compliance Officer

Contract Manager

Credit Manager

Treasury Manager

Company Secretary

Business Development Manager

Account Manager

Senior Financial Analyst

Legal Operations Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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