The Guarantee Contract serves as a critical risk mitigation tool in various commercial and financial transactions under Dutch law. This document is typically used when additional security is required for financial obligations, such as loans, lease agreements, or commercial contracts. The guarantee can be provided by either corporate entities or individuals, with specific provisions of the Dutch Civil Code applying differently to each. A Guarantee Contract must explicitly state the maximum liability, duration, and conditions for enforcement, while ensuring compliance with Dutch legal requirements, particularly those set out in Book 7 of the Dutch Civil Code. When the guarantor is a natural person, additional consumer protection provisions must be included. The document is essential in situations where creditors seek additional security for their exposure and is commonly used in banking, real estate, and commercial transactions.
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1. Parties: Identification of the guarantor, the beneficiary (creditor), and the principal debtor
2. Background: Context of the guarantee, including reference to the underlying obligation being guaranteed
3. Definitions: Definitions of key terms used in the guarantee contract
4. Scope of Guarantee: Clear description of the obligations being guaranteed and the nature of the guarantee (conditional/unconditional, joint and several, etc.)
5. Maximum Liability: Explicit statement of the maximum amount for which the guarantor can be held liable
6. Duration: Term of the guarantee, including commencement date and expiry conditions
7. Demands and Payments: Process and conditions for making demands under the guarantee and how payments should be made
8. Guarantor's Obligations: Detailed description of the guarantor's obligations and undertakings
9. Representations and Warranties: Statements of fact and assurances given by the guarantor
10. Enforcement: Conditions and process for enforcing the guarantee
11. Governing Law and Jurisdiction: Confirmation of Dutch law as governing law and jurisdiction for disputes
1. Consumer Protection Provisions: Required when the guarantor is a natural person, including mandatory warnings and acknowledgments
2. Security Rights: Include when additional security is provided to support the guarantee
3. Counter-Indemnity: Include when the guarantor has recourse rights against the principal debtor
4. Information Rights: Optional provisions regarding the guarantor's right to receive information about the underlying obligation
5. Assignment and Transfer: Include when transfer rights need to be specifically addressed
6. Multiple Guarantors: Required when there is more than one guarantor, addressing joint and several liability
7. Currency Provisions: Include for cross-border guarantees involving multiple currencies
1. Form of Demand: Template for making a valid demand under the guarantee
2. Underlying Obligation: Copy or summary of the principal obligation being guaranteed
3. Corporate Authorizations: Copies of relevant corporate approvals for corporate guarantors
4. Payment Details: Schedule containing detailed payment instructions and account information
5. Calculation of Maximum Liability: If the maximum liability is variable or based on a formula, details of calculation method
Relevant legal definitions
Agreement
Applicable Law
Beneficiary
Business Day
Default Event
Default Interest
Demand
Effective Date
Enforcement Notice
Expiry Date
Guarantee
Guarantee Amount
Guarantee Obligations
Guaranteed Liabilities
Guarantor
Maximum Liability
Parties
Payment Date
Principal Agreement
Principal Debtor
Principal Obligations
Recourse Rights
Security
Termination Event
Underlying Obligation
Valid Claim
Working Day
Written Notice
Applicable Law
Beneficiary
Business Day
Default Event
Default Interest
Demand
Effective Date
Enforcement Notice
Expiry Date
Guarantee
Guarantee Amount
Guarantee Obligations
Guaranteed Liabilities
Guarantor
Maximum Liability
Parties
Payment Date
Principal Agreement
Principal Debtor
Principal Obligations
Recourse Rights
Security
Termination Event
Underlying Obligation
Valid Claim
Working Day
Written Notice
Clauses
Interpretation
Guarantee Obligations
Scope of Guarantee
Payment Obligations
Maximum Liability
Duration and Expiry
Demands and Claims
Enforcement Rights
Representations and Warranties
Undertakings
Recourse Rights
Information Rights
Assignment and Transfer
Costs and Expenses
Notices
Amendments
Severability
Waiver
Set-off Rights
Currency Provisions
Counterparts
Electronic Execution
Force Majeure
Confidentiality
Data Protection
Anti-corruption
Governing Law
Jurisdiction
Dispute Resolution
Guarantee Obligations
Scope of Guarantee
Payment Obligations
Maximum Liability
Duration and Expiry
Demands and Claims
Enforcement Rights
Representations and Warranties
Undertakings
Recourse Rights
Information Rights
Assignment and Transfer
Costs and Expenses
Notices
Amendments
Severability
Waiver
Set-off Rights
Currency Provisions
Counterparts
Electronic Execution
Force Majeure
Confidentiality
Data Protection
Anti-corruption
Governing Law
Jurisdiction
Dispute Resolution
Relevant Industries
Banking and Financial Services
Real Estate
Construction
Manufacturing
International Trade
Retail
Energy
Infrastructure
Telecommunications
Professional Services
Relevant Teams
Legal
Finance
Risk Management
Treasury
Compliance
Commercial
Credit
Corporate Affairs
Banking
Operations
Relevant Roles
Legal Counsel
Finance Director
Credit Risk Manager
Commercial Director
Contract Manager
Treasury Manager
Chief Financial Officer
Risk Officer
Corporate Lawyer
Compliance Officer
Banking Relationship Manager
Security Documentation Specialist
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