The Rental Guarantee Form is a critical document in Austrian property rental transactions, providing landlords with security against tenant default while complying with Austrian legal requirements. It is typically used when entering into new rental agreements or when replacing existing security arrangements. The document details the guarantee amount (usually equivalent to several months' rent), specifies the guaranteed obligations, and outlines the process for making claims. The guarantee can be issued by either a bank (Bankgarantie) or an individual guarantor (Bürgschaft), with different legal considerations applying to each type. The form must comply with various Austrian regulations, including the Civil Code (ABGB), Tenancy Act (Mietrechtsgesetz), and when applicable, the Consumer Protection Act (Konsumentenschutzgesetz). This document is essential for protecting landlords' interests while providing clear parameters for all parties involved in the rental arrangement.
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1. Parties: Identification of the Guarantor, Landlord (Beneficiary), and reference to the Tenant
2. Background: Reference to the underlying rental agreement and the purpose of the guarantee
3. Definitions: Key terms used in the guarantee form including 'Guaranteed Obligations', 'Rental Agreement', 'Guarantee Period'
4. Guarantee Amount: Specific sum being guaranteed, typically equivalent to several months' rent
5. Scope of Guarantee: Detailed description of what obligations are covered by the guarantee
6. Duration: Term of the guarantee, including start date and conditions for termination
7. Demand Requirements: Process and conditions under which the guarantee can be called upon
8. Payment Terms: Timeframe and method for payment upon valid demand
9. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction
1. Bank Details: Required when the guarantee is issued by a banking institution, including specific bank identification and processing information
2. Multiple Guarantors Clause: Used when more than one guarantor is providing the guarantee, defining joint and several liability
3. Release Conditions: Optional detailed conditions for releasing the guarantee beyond the standard termination of the rental agreement
4. Assignment and Transfer: Include when the guarantee needs to be transferable or when assignment rights need to be specifically addressed
5. Notice Requirements: Added when specific notification procedures between parties need to be established beyond standard demand requirements
1. Schedule 1 - Rental Agreement Details: Copy or key details of the underlying rental agreement including property address, rental amount, and term
2. Schedule 2 - Form of Demand: Template for making a valid demand under the guarantee
3. Appendix A - Required Documentation: List of documents required for guarantee activation or release
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