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What is a Deed of Guarantee and Indemnity?
A Deed of Guarantee and Indemnity is a legally binding document under which one party agrees to guarantee the obligations of another party under another legal contract.
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A Deed of Guarantee & Indemnity is a legal document confirming that one of the parties will guarantee the performance of one of the other parties.
Read more here.
You’ll need a Deed of Guarantee and Indemnity if you are seeking to guarantee the obligations of another party under a separate legal contract.
For example, if a company is borrowing money from a lender, then the borrower may request that a director of the company ‘guarantee’ the obligations of the company under the loan agreement by signing a Deed of Guarantee and Indemnity. This means the director will be responsible for completing the performance if the company fails to do so. It essentially provides security for the promise to be carried out.
Guaranteeing a loan means that you offer security to the lender in case the borrower defaults on the loan, or is unable to repay it. If you are asked to provide a guarantee and indemnity to a lender, there are several things you must consider. These are as follows:
A lawyer can take you through each of these steps and help draft and finalise the best possible Deed for you and your business
Our fixed-fee Deed of Guarantee and Indemnity packages start at $900 + GST. This includes a Deed of Guarantee and Indemnity drafted to meet your specific requirements, phone consultations with a Sprintlaw lawyer and a complimentary amendment to the final draft we provide to you.
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