Guarantee Rental Agreement Template for Austria

The Guarantee Rental Agreement is utilized when a landlord requires additional security beyond a standard deposit for a rental arrangement. This document, governed by Austrian law, establishes the terms under which a guarantor (either an individual or institution) agrees to secure the tenant's obligations under a rental agreement. The guarantee may cover rent payments, service charges, potential damages, and other tenant obligations as specified in the rental agreement. The document must comply with Austrian legal requirements, including the ABGB's provisions on guarantees and the MRG's rental regulations. The Guarantee Rental Agreement is particularly important in commercial leases or residential rentals where the tenant's creditworthiness requires additional security. It includes specific provisions regarding the guarantee's scope, enforcement mechanisms, and the guarantor's liability limits.

1. Parties: Identification of all parties: Guarantor, Landlord (Beneficiary), and Tenant (Principal Debtor)

2. Background: Context of the guarantee, referring to the underlying rental agreement and the requirement for a guarantee

3. Definitions: Key terms used in the agreement, including 'Guaranteed Obligations', 'Rental Agreement', 'Guarantee Period'

4. Guarantee: Core section detailing the guarantee commitment, maximum liability amount, and scope of guaranteed obligations

5. Duration of Guarantee: Term of the guarantee, including start date and conditions for termination

6. Demands and Payments: Process for making claims under the guarantee, including notice requirements and payment terms

7. Guarantor's Representations and Warranties: Confirmations from the guarantor regarding their capacity and authority to provide the guarantee

8. Independence and Primary Obligation: Clause establishing the guarantee as an independent and primary obligation

9. Preservation of Rights: Landlord's rights in relation to other securities or remedies

10. Notices: Communication requirements and contact details for all parties

11. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction for disputes