Legal Templates
Employee Guarantor Form

Employee Guarantor Form for Canada

Employee Guarantor Form Template for Canada

This document is a comprehensive legal agreement used in Canadian jurisdictions to establish a personal guarantee from an employee to their employer. It creates a legally binding commitment where the employee guarantees certain obligations, responsibilities, or potential liabilities related to their employment. The form complies with Canadian federal and provincial legislation regarding employment relationships, guarantees, and security agreements, incorporating necessary provisions for enforceability across Canadian provinces while addressing specific provincial requirements where applicable.

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What is a Employee Guarantor Form?

The Employee Guarantor Form is essential in business relationships where employers require additional security or assurance from employees who handle significant responsibilities or resources. This document is commonly used across Canadian jurisdictions when employees are entrusted with financial management, valuable assets, or critical business operations. The form establishes the scope of the guarantee, specific obligations being guaranteed, enforcement mechanisms, and the duration of the guarantee commitment. It's particularly relevant for positions involving financial accountability, asset management, or significant decision-making authority. The document ensures compliance with Canadian federal and provincial laws regarding employment relationships, personal guarantees, and security agreements, while providing clear terms for both parties regarding their rights and obligations.

What sections should be included in a Employee Guarantor Form?

1. Parties: Identifies all parties to the agreement including the Guarantor (Employee), the Principal Debtor (if different from the Employee), and the Beneficiary (Employer/Company)

2. Background: Explains the context of the guarantee, including the relationship between parties and the reason for requiring the guarantee

3. Definitions: Defines key terms used throughout the document including 'Guaranteed Obligations', 'Event of Default', and other relevant terms

4. Guarantee and Indemnity: Core section detailing the scope of the guarantee, the specific obligations being guaranteed, and indemnification provisions

5. Nature of Guarantee: Specifies that this is a continuing guarantee and describes its fundamental characteristics (e.g., unconditional, irrevocable)

6. Guarantor's Obligations: Details the specific duties and responsibilities of the guarantor, including payment obligations and performance requirements

7. Duration and Termination: Specifies how long the guarantee remains in effect and conditions for termination

8. Enforcement: Outlines the circumstances under which the guarantee can be enforced and the process for enforcement

9. Governing Law and Jurisdiction: Specifies that Canadian law governs the agreement and identifies the relevant jurisdiction for disputes

What sections are optional to include in a Employee Guarantor Form?

1. Security: Include when specific assets or security are being pledged as part of the guarantee

2. Independent Legal Advice: Include when there's a requirement or recommendation for the guarantor to seek independent legal advice

3. Multiple Guarantors: Include when more than one employee is providing a guarantee, establishing joint and several liability

4. Limit of Liability: Include when the guarantee is to be capped at a specific amount rather than unlimited

5. Subordination: Include when the guaranteed obligations need to be subordinated to other debts or obligations

6. Currency: Include when the guarantee involves obligations in multiple currencies or specific currency provisions

7. Financial Covenants: Include when specific financial conditions or reporting requirements are imposed on the guarantor

What schedules should be included in a Employee Guarantor Form?

1. Schedule A - Guaranteed Obligations: Detailed list or description of the specific obligations being guaranteed

2. Schedule B - Certificate of Independent Legal Advice: Form to be completed by the guarantor's legal counsel confirming independent advice was received

3. Schedule C - Guarantor's Statement of Assets and Liabilities: Financial disclosure form for the guarantor's current financial position

4. Appendix 1 - Notice Requirements: Details of how and where notices under the guarantee must be delivered

5. Appendix 2 - Consent to Credit Check: Authorization form for periodic credit checks on the guarantor if required

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

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Jurisdiction

Canada

Publisher

Genie AI

Document Type

Employment Form

Sector

Employment

Cost

Free to use
Relevant Industries

Financial Services

Banking

Insurance

Real Estate

Retail

Manufacturing

Professional Services

Construction

Transportation and Logistics

Technology

Investment Management

Trading

Commodities

Relevant Teams

Finance

Treasury

Sales

Operations

Asset Management

Risk Management

Credit Control

Procurement

Trading

Investment Management

Branch Operations

Retail Operations

Logistics

Facilities Management

Portfolio Management

Relevant Roles

Chief Financial Officer

Financial Controller

Treasury Manager

Account Manager

Sales Director

Procurement Manager

Asset Manager

Investment Advisor

Trading Manager

Branch Manager

Regional Director

Operations Manager

Project Manager

Facility Manager

Store Manager

Warehouse Manager

Fleet Manager

Credit Manager

Risk Officer

Portfolio Manager

Industries
Personal Information Protection and Electronic Documents Act (PIPEDA): Federal privacy law that governs the collection, use, and disclosure of personal information in commercial activities. Relevant for handling employee and guarantor personal information.
Canada Labour Code: Federal legislation governing employment standards, though primarily applicable to federally regulated industries. May impact the context in which guarantees are requested from employees.
Provincial Employment Standards Acts: Provincial laws governing employment relationships and standards. Relevant for understanding the context of employee-employer relationships and any limitations on employee guarantees.
Statute of Frauds (Provincial): Provincial legislation requiring certain contracts, including guarantees, to be in writing and signed to be enforceable.
Provincial Consumer Protection Acts: Laws protecting individuals in consumer transactions, which may apply to personal guarantees depending on the context and jurisdiction.
Criminal Interest Rate (Criminal Code of Canada, Section 347): Relevant if the guarantee involves any interest charges or financial obligations, setting maximum legal interest rates.
Provincial Guarantees Acts: Specific provincial legislation governing the formation and enforcement of guarantee agreements.
Bankruptcy and Insolvency Act: Federal legislation relevant for understanding the implications of guarantor bankruptcy on the guarantee obligation.
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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