Example specific guaranty template by docbase

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									Example specific guaranty template
Sample / example letter template:
SPECIFIC GUARANTY

FOR GOOD AND VALUABLE CONSIDERATION, and as an inducement for [company] to extend credit to [borrower]; the undersigned jointly and severally and unconditionally guaranty to Company the prompt and full payment of the following debt owed to Company from Borrower: [description of debt] And the undersigned agree to remain bound on this guaranty notwithstanding any extension, forebearance or waiver, or release, discharge or substitution of any collateral or security for the debt. In the event of default, the company may seek payment directly from the undersigned without need to proceed first against Borrower. This guaranty shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives. Signed under seal this [day] day of [month], 19[86].

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