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Personal Guarantee Letter

Personal Guarantee Letter Template for Philippines

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Key Requirements PROMPT example:

Personal Guarantee Letter

"I need a Personal Guarantee Letter where I will guarantee a PHP 2,000,000 business loan that ABC Corporation is taking from XYZ Bank, with the guarantee period starting March 1, 2025, and I want to limit my liability to only the principal amount without interest."

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Document background
A Personal Guarantee Letter is commonly used in the Philippines when additional security is required for business or personal obligations. This document is particularly crucial in lending arrangements, lease agreements, and business contracts where the primary obligor's creditworthiness needs to be supplemented. The letter, governed by Philippine law, specifically Articles 2047-2084 of the Civil Code, must clearly identify the guarantor, the primary obligation being guaranteed, and the extent of the guarantee. It serves as a risk mitigation tool for creditors while facilitating access to credit or business opportunities for the primary obligor. The document's format and content must comply with Philippine legal requirements, including proper identification of parties, clear statement of obligations, and appropriate execution formalities.
Suggested Sections

1. Date and Place: The date and location where the guarantee letter is executed

2. Addressee Details: Full name and address of the creditor/beneficiary of the guarantee

3. Guarantor Details: Full name and address of the person providing the guarantee

4. Reference to Primary Obligation: Clear identification of the main debt or obligation being guaranteed, including the debtor's details

5. Guarantee Statement: Express declaration of the guarantee, including the scope and amount being guaranteed

6. Terms of Guarantee: Specific conditions of the guarantee, including when and how it can be called upon

7. Duration: The period for which the guarantee remains valid

8. Governing Law Statement: Explicit statement that the guarantee is governed by Philippine law

9. Signature Block: Space for guarantor's signature, with name and date

Optional Sections

1. Joint and Several Liability Clause: Required when there are multiple guarantors who will be jointly and severally liable

2. Specific Conditions: Include when the guarantee is subject to specific conditions or limitations

3. Waiver of Rights: Optional clause where guarantor waives certain rights such as the right of excussion

4. Renewal Terms: Include when the guarantee may be subject to renewal or extension

5. Notice Requirements: Details of how and where notices should be served if needed for specific arrangements

6. Acknowledgment Before Notary: Required if the guarantee needs to be notarized for additional legal protection

Suggested Schedules

1. Copy of Primary Agreement: Attach copy of the main agreement or obligation being guaranteed

2. Guarantor's ID: Copy of government-issued ID of the guarantor

3. Proof of Authority: If guarantor is signing in representative capacity, documentation proving authority to sign

4. Statement of Assets: Optional attachment showing guarantor's financial capacity to honor the guarantee

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 Industries

Banking and Financial Services

Real Estate

Construction

Retail

Manufacturing

Small and Medium Enterprises

Import/Export

General Trading

Professional Services

Education

Relevant Teams

Legal

Credit Risk

Compliance

Finance

Business Development

Account Management

Collections

Treasury

Corporate Secretariat

Loan Administration

Relevant Roles

Credit Officer

Risk Manager

Legal Counsel

Compliance Officer

Business Development Manager

Account Manager

Financial Controller

Chief Financial Officer

Credit Analyst

Corporate Secretary

Loan Officer

Collections Manager

Contract Administrator

Treasury Manager

Industries
Civil Code of the Philippines (Republic Act No. 386): Primary legislation governing contracts and obligations in the Philippines, particularly Book IV on Obligations and Contracts, Articles 1305-1422 (on contracts in general) and Articles 2047-2084 (specific provisions on guaranty)
Rules of Court of the Philippines: Procedural rules that govern the enforcement of contracts and guarantees in court, particularly on authentication and proof of documents
General Banking Law of 2000 (Republic Act No. 8791): Relevant when the guarantee involves banking transactions or financial institutions, particularly provisions on bank guarantees and security arrangements
E-Commerce Act of 2000 (Republic Act No. 8792): Applicable if the guarantee will be executed electronically, governing electronic signatures and electronic documents
National Internal Revenue Code: Contains provisions on documentary stamp tax requirements for guarantee agreements and other tax implications of personal guarantees
Anti-Money Laundering Act (Republic Act No. 9160): May be relevant for high-value guarantees, particularly in terms of reporting requirements and due diligence
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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