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Personal Guarantor Agreement Form

Personal Guarantor Agreement Form Template for Indonesia

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Key Requirements PROMPT example:

Personal Guarantor Agreement Form

"I need a Personal Guarantor Agreement Form under Indonesian law where I will personally guarantee a business loan of IDR 500 million for my brother's startup company, with the guarantee period starting from March 1, 2025, and the loan being provided by Bank Central Asia."

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Document background
The Personal Guarantor Agreement Form is a crucial legal instrument in Indonesian financial and business transactions, based on the Indonesian Civil Code (KUHPerdata) and regulated by the Financial Services Authority (OJK). This document is typically used when a creditor requires additional security for a loan or financial obligation, where an individual agrees to guarantee the debt of another party. The agreement outlines the guarantor's obligations, the extent of the guarantee, enforcement procedures, and the circumstances under which the guarantee can be called upon. It's particularly important in business lending, property transactions, and corporate finance where personal guarantees are required as additional security. The document must comply with Indonesian banking regulations, consumer protection laws, and financial services requirements, making it essential for both institutional lenders and private business arrangements.
Suggested Sections

1. Parties: Identification of the Guarantor, Principal Debtor, and Creditor with complete legal names and addresses

2. Background: Context of the guarantee, including details of the primary debt obligation being guaranteed

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

4. Guarantee: Core terms of the guarantee, including the scope and extent of the guaranteed obligations

5. Guarantor's Representations and Warranties: Statements confirming the guarantor's capacity, authority, and financial ability to provide the guarantee

6. Nature of Guarantee: Specification that this is a continuing guarantee and details of its binding nature

7. Payment Obligations: Terms regarding how and when the guarantor must fulfill payment obligations

8. Indemnity: Guarantor's obligation to indemnify the creditor against losses

9. Preservation of Rights: Creditor's rights preservation and ability to enforce the guarantee

10. Communications: Protocol for notices and communications between parties

11. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes

12. Execution: Signature blocks and execution requirements

Optional Sections

1. Security: Include when the guarantee is supported by specific assets or security arrangements

2. Joint and Several Liability: Include when there are multiple guarantors

3. Currency Provisions: Include when the guaranteed obligation involves foreign currency

4. Tax Provisions: Include when tax implications need to be specifically addressed

5. Assignment: Include when rights under the guarantee may need to be assigned

6. Confidentiality: Include when sensitive financial or business information is involved

7. Force Majeure: Include when specific force majeure provisions are required

8. Language Requirements: Include when the agreement needs to be in dual language (Indonesian and English)

Suggested Schedules

1. Schedule 1 - Primary Obligation Details: Detailed description of the primary debt or obligation being guaranteed

2. Schedule 2 - Guarantor's Assets Declaration: List of guarantor's relevant assets and financial status

3. Schedule 3 - Guarantee Limit and Conditions: Specific financial limits and conditions of the guarantee

4. Schedule 4 - Form of Demand: Template for making a demand under the guarantee

5. Appendix A - Required Documents: List of supporting documents required from the guarantor

6. Appendix B - Payment Instructions: Detailed payment procedures and bank account information

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
Clauses
Interpretation
Guarantee and Indemnity
Scope of Guarantee
Payment Obligations
Representations and Warranties
Continuing Security
Independence of Guarantee
Preservation of Rights
Default and Enforcement
Demands and Notices
Joint and Several Liability
Assignment and Transfer
Currency and Payment
Tax Gross-up
Costs and Expenses
Indemnification
Set-off Rights
Amendment and Modification
Severability
Force Majeure
Governing Law
Dispute Resolution
Language
Counterparts
Entire Agreement
Waiver
Confidentiality
Term and Termination
Security Rights
Compliance with Laws
Relevant Industries

Banking

Financial Services

Real Estate

Small and Medium Enterprises

Corporate Lending

Retail Banking

Microfinance

Property Development

Commercial Leasing

Business Services

Relevant Teams

Legal

Risk Management

Compliance

Credit Assessment

Corporate Banking

Retail Banking

Documentation

Finance

Operations

Customer Relations

Relevant Roles

Legal Counsel

Credit Manager

Risk Assessment Officer

Compliance Officer

Banking Relations Manager

Corporate Finance Manager

Loan Officer

Financial Services Director

Legal Documentation Specialist

Credit Risk Analyst

Account Manager

Business Development Manager

Industries
Indonesian Civil Code (KUHPerdata) - Book III: Fundamental law governing contracts, obligations, and agreements in Indonesia, particularly Articles 1820-1850 which specifically regulate personal guarantees (borgtocht)
Law No. 8 of 1999: Consumer Protection Law - ensures fair treatment and protection of rights for individuals entering into agreements, including personal guarantees
Law No. 21 of 2011: Financial Services Authority Law (OJK Law) - regulates financial service institutions and their practices, including guarantee arrangements
Indonesian Civil Code Articles 1313-1351: General provisions regarding the validity of agreements, including requirements for legal capacity, clear object, lawful cause, and mutual consent
Financial Services Authority Regulation No. 1/POJK.07/2013: Regulation on Consumer Protection in the Financial Services Sector, ensuring fair practices in financial agreements including guarantees
Law No. 42 of 1999: Law on Fiduciary Security - while primarily about secured transactions, it contains relevant provisions regarding personal guarantees in relation to secured obligations
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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