The Affidavit of Guarantee (Eidesstattliche Garantieerklärung) is a crucial legal instrument in Austrian business and financial transactions. It is commonly required when one party needs additional security for obligations undertaken by another party, such as in loan agreements, lease contracts, or business transactions. The document combines the formality of an affidavit with the binding nature of a guarantee under Austrian law, requiring strict compliance with the Austrian Civil Code (ABGB) and notarial regulations. This type of document is particularly important as it provides enhanced security due to its sworn nature and formal execution requirements. It must contain specific declarations about the guaranteed obligations, the guarantor's capacity, and acknowledgment of legal consequences, making it a powerful tool for risk mitigation in commercial relationships.
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1. Title and Date: Formal title 'Affidavit of Guarantee' (Eidesstattliche Garantieerklärung) and date of execution
2. Deponent Details: Full legal name, address, and identification details of the person making the guarantee (guarantor)
3. Beneficiary Details: Full legal name and address of the party receiving the guarantee
4. Principal Debtor Details: Full legal name and address of the party whose obligations are being guaranteed
5. Recitals: Background information explaining the context and purpose of the guarantee
6. Guaranteed Obligations: Precise description of the obligations being guaranteed, including amounts, duration, and conditions
7. Scope of Guarantee: Clear statement of whether it's a limited or unlimited guarantee, and any specific limitations or conditions
8. Declaration Under Oath: Formal statement confirming the truth of the declarations and understanding of obligations
9. Governing Law: Explicit statement that the guarantee is governed by Austrian law
10. Execution Block: Space for signature, date, and notary authentication
1. Guarantee Period: Include when the guarantee has a specific duration or expiry date
2. Demand Procedures: Include when specific procedures for making demands under the guarantee need to be detailed
3. Financial Capacity Statement: Include when guarantor needs to declare their financial capacity to honor the guarantee
4. Counter-Indemnity: Include when there are arrangements for the guarantor to be indemnified by other parties
5. Consumer Protection Notice: Include when the guarantor is a consumer under Austrian law
6. Release Conditions: Include when specific conditions for releasing the guarantee need to be detailed
1. Principal Obligation Document: Copy of the underlying agreement or obligation being guaranteed
2. Identification Documents: Certified copies of identification documents of the guarantor
3. Financial Statements: If required, recent financial statements or proof of financial capacity of the guarantor
4. Power of Attorney: If applicable, documentation authorizing the guarantor to provide the guarantee
5. Translation Certificate: If document is bilingual or requires certified translation
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