Guarantor Agreement For Loan for Germany

Guarantor Agreement For Loan Template for Germany

A German law-governed Guarantor Agreement for Loan (Bürgschaftsvertrag) is a legally binding document where a guarantor assumes responsibility for the debt obligations of a borrower under a loan agreement. The document is structured in accordance with the German Civil Code (BGB), particularly §§ 765-778, and includes specific provisions required under German law regarding the scope of the guarantee, payment obligations, and enforcement mechanisms. When involving consumer guarantors, it incorporates mandatory consumer protection provisions and warnings as required by German law. The agreement establishes the nature of the guarantee, whether it is limited or unlimited, and sets out the specific circumstances under which the guarantee can be called upon.

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What is a Guarantor Agreement For Loan?

The Guarantor Agreement For Loan is a crucial document in German lending practices, commonly used to secure loan obligations through third-party guarantees. It is utilized when a primary borrower requires additional security to obtain a loan, or when a lender seeks extra protection for their credit exposure. The agreement must comply with strict German legal requirements, particularly those set out in the Civil Code (BGB) regarding form requirements and content. For consumer guarantors, additional protective measures are mandatory, including clear warnings about the risks involved and potential liability. The document serves various business contexts, from corporate financing to private loans, and must be carefully drafted to ensure enforceability under German law. It typically includes detailed provisions about the scope of the guarantee, enforcement procedures, and the specific obligations being guaranteed.

What sections should be included in a Guarantor Agreement For Loan?

1. Parties: Identification of all parties: Guarantor, Lender (Creditor), and Borrower

2. Background: Details of the underlying loan agreement and the context for the guarantee

3. Definitions: Definitions of key terms used in the agreement, including 'Guaranteed Obligations', 'Security Period', and 'Enforcement Event'

4. Guarantee and Indemnity: Core guarantee provisions, including scope of guaranteed obligations and nature of guarantee (e.g., absolute, continuing, independent)

5. Extent of Liability: Clear statement of the guarantor's maximum liability and any limitations

6. Representations and Warranties: Guarantor's confirmations regarding capacity, authority, and understanding of obligations

7. Payment Mechanics: Provisions regarding how and when payments must be made, including currency and payment method

8. Costs and Expenses: Allocation of costs related to the guarantee's preparation and enforcement

9. Duration and Release: Term of the guarantee and conditions for release

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

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

What sections are optional to include in a Guarantor Agreement For Loan?

1. Consumer Protection Declarations: Required when the guarantor is a private individual, including statutory warnings and acknowledgments

2. Security Interest: Optional provisions for additional security provided by the guarantor

3. Tax Gross-up: Provisions for tax implications, typically included in commercial guarantees

4. Financial Covenants: Included when guarantor must maintain specific financial conditions

5. Assignment and Transfer: Included when transfer rights are relevant, particularly in commercial contexts

6. Multiple Guarantors: Additional provisions required when there is more than one guarantor

7. Subordination: Required when the guarantee needs to be ranked relative to other obligations

What schedules should be included in a Guarantor Agreement For Loan?

1. Form of Demand: Template for making demands under the guarantee

2. Copy of Underlying Loan Agreement: Attached to evidence the guaranteed obligations

3. Financial Information: Where relevant, details of guarantor's financial position

4. Guarantor's Corporate Authorizations: Required for corporate guarantors, including board resolutions

5. Independent Legal Advice Certificate: Where required, especially for private individual guarantors

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

Jurisdiction

Germany

Publisher

Genie AI

Document Type

Financing Agreement

Cost

Free to use
Relevant legal definitions
Relevant Industries

Banking and Financial Services

Real Estate

Commercial Lending

Corporate Finance

Retail Banking

Small and Medium Enterprises (SME)

Construction

Manufacturing

Professional Services

Property Development

Relevant Teams

Legal

Credit Risk

Corporate Banking

Retail Banking

Compliance

Loan Operations

Risk Management

Credit Administration

Document Management

Corporate Finance

Relevant Roles

Legal Counsel

Credit Risk Manager

Loan Officer

Relationship Manager

Compliance Officer

Credit Analyst

Corporate Banking Manager

Retail Banking Manager

Legal Director

Chief Credit Officer

Banking Operations Manager

Risk Assessment Officer

Loan Administrator

Corporate Finance 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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