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Loan Personal Guarantee Form

Loan Personal Guarantee Form Template for Belgium

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Key Requirements PROMPT example:

Loan Personal Guarantee Form

"I need a Belgian law Loan Personal Guarantee Form for a €500,000 business loan where two company directors will act as joint guarantors, with the guarantee period starting from March 1, 2025, and including specific provisions for early termination if the company achieves certain revenue targets."

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Document background
The Loan Personal Guarantee Form is a critical document in Belgian lending practices, used when a third party agrees to guarantee the repayment of another party's loan obligations. This document is essential in situations where additional security is required for a loan, particularly in commercial lending, property financing, or business loans where the lender requires personal assurance beyond the principal debtor's commitments. The form must comply with Belgian Civil Code requirements for suretyship (cautionnement/borgtocht) and includes specific protections required under Belgian consumer law when the guarantor is an individual. It details the extent of the guarantee, enforcement conditions, and the specific circumstances under which the guarantee can be called upon. The document is particularly important in the Belgian context due to specific legal requirements regarding form, content, and execution of personal guarantees.
Suggested Sections

1. Parties: Identification of the Guarantor, Creditor, and Principal Debtor, including full legal names, addresses, and registration details where applicable

2. Background: Context of the guarantee, including reference to the principal debt agreement and relationship between the parties

3. Definitions: Definitions of key terms used throughout the guarantee agreement

4. Guarantee: Core provisions detailing the scope and nature of the guarantee obligation

5. Extent of Liability: Clear statement of the maximum amount guaranteed and any limitations on liability

6. Duration: Term of the guarantee and conditions for termination

7. Guarantor's Obligations: Detailed description of the guarantor's duties and responsibilities

8. Representations and Warranties: Guarantor's confirmations regarding their capacity and authority to enter into the guarantee

9. Payment Terms: Procedures and timing for payments under the guarantee

10. Enforcement: Circumstances and procedures for enforcing the guarantee

11. Notices: Requirements for formal communications between parties

12. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Multiple Guarantors: Additional provisions for cases involving more than one guarantor, including joint and several liability

2. Security: Where additional security is provided alongside the personal guarantee

3. Tax Provisions: Specific provisions regarding tax implications and responsibilities

4. Assignment: Provisions regarding the ability to transfer rights under the guarantee

5. Personal Data Protection: GDPR compliance provisions where personal data processing is involved

6. Language Declaration: Required for guarantees involving parties from different Belgian language regions

7. Independent Legal Advice: Confirmation that the guarantor has received independent legal advice

8. Financial Caps: Specific limitations on the guarantor's liability based on their financial capacity

Suggested Schedules

1. Principal Debt Agreement: Copy or summary of the underlying loan agreement

2. Payment Schedule: Schedule of payments under the principal debt agreement

3. Asset Declaration: Declaration of the guarantor's assets and financial position

4. Specimen Signature: Verified signature specimen of the guarantor

5. Legal Capacity Certificate: If required, documentation confirming the guarantor's legal capacity

6. Consent Forms: Any required spousal or third-party consent forms

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Business Day
Creditor
Default
Enforcement Event
Event of Default
Guarantee
Guaranteed Obligations
Guarantor
Interest Rate
Lender
Loan Agreement
Maximum Guaranteed Amount
Notice
Parties
Payment Date
Principal Debtor
Principal Debt
Principal Loan Agreement
Secured Obligations
Security
Subsidiary
Tax
Working Day
Default Interest Rate
Guarantee Period
Effective Date
Termination Date
Related Rights
Relevant Jurisdiction
Belgian Law
Security Interest
Material Adverse Effect
Permitted Transfer
Finance Documents
Clauses
Interpretation
Guarantee and Indemnity
Scope of Guarantee
Payment Obligations
Representations and Warranties
Continuing Security
Enforcement
Demand and Payment
Release and Discharge
Assignment and Transfer
Amendments and Waivers
Severability
Governing Law
Jurisdiction
Notices
Duration
Liability Limitations
Rights and Remedies
Default Interest
Costs and Expenses
Set-off Rights
Waiver of Defenses
Information Rights
Confidentiality
Data Protection
Force Majeure
Language
Tax Provisions
Independent Obligations
Entire Agreement
Relevant Industries

Banking

Financial Services

Real Estate

Commercial Lending

Investment Services

Small Business Services

Corporate Finance

Retail Banking

Mortgage Services

Private Banking

Relevant Teams

Legal

Credit Risk

Compliance

Commercial Banking

Corporate Banking

Loan Operations

Document Management

Risk Management

Financial Control

Client Relations

Relevant Roles

Credit Manager

Loan Officer

Legal Counsel

Compliance Officer

Risk Manager

Commercial Banking Manager

Relationship Manager

Credit Analyst

Corporate Banking Officer

Financial Controller

Legal Director

Credit Risk Officer

Banking Operations Manager

Document Management Specialist

Notary

Industries
Belgian Civil Code (Articles 2011-2043): Core provisions governing suretyship (cautionnement/borgtocht) in Belgium, including formation requirements, scope, and effects of personal guarantees
Book III, Title XVII of the Belgian Civil Code: General contract law provisions that apply to guarantee agreements, including requirements for valid consent, capacity, and contract formation
Belgian Law on Consumer Credit (12 June 1991): Provides protection for individuals acting as guarantors, including information requirements and formal requirements for guarantee agreements
Belgian Financial Security Law (15 December 2004): Regulations concerning financial collateral arrangements and enforcement of security interests
Belgian Code of Economic Law Book VII: Contains provisions on payment and credit services, including requirements for credit-related guarantees
Belgian Law on Financial Services (2002): Regulations concerning financial services and consumer protection in financial transactions
Belgian Registration Duties Code: Requirements for registration of guarantee agreements and associated fiscal obligations
Belgian Law on Unfair Contract Terms: Protects against unfair terms in contracts, including guarantee agreements, particularly when involving consumers
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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