Guarantor

Guarantees are given in all sorts of business and personal related transactions.

The guarantee is there to make sure that a third-party guarantees the obligations of a borrower – normally a family member or, guarantees the performance of obligations under a contract (for example a Director personally guaranteeing that his/her company will deliver).

In certain circumstances guarantees have to be given subject to obtaining independent advice. We are referred many matters by other lawyers and accountants to give independent advice to people giving guarantees.

We also review and prepare guarantees to support borrowing commitments, particularly commitments involving families, loans from third parties to businesses and also, regularly with respect to leases given over commercial and residential property.

In larger commercial matters where there is a significant supply of services, we regularly see our clients having to provide guarantees that their companies will deliver goods and services or otherwise perform obligations of the contract, prepare terms and conditions of trade, credit applications, and other commercial documents.

We regularly advise clients to utilise guarantees as a form of security.

Guarantees are not difficult to prepare and, the team at ALG can prepare and produce guarantees at short notice for clients. We are also able, give the depth of knowledge and skills within the practice, to have any of our lawyers attend on you at short notice to explain guarantees.