The Personal Guarantee Agreement is a crucial document in Swiss commercial and financial practice, commonly used when additional security is required for loans, leases, or other financial obligations. It finds application in various contexts, from corporate financing to private lending arrangements. Under Swiss law, personal guarantees are strictly regulated by Articles 492-512 of the Swiss Code of Obligations, which impose specific formal requirements, particularly for guarantees provided by individuals. These requirements include written form, explicit amount specification, and notarization for guarantees exceeding CHF 2,000. The document serves to protect both the creditor's interests by providing additional security and the guarantor's interests through clear documentation of the scope and limits of their obligations. Personal Guarantee Agreements are particularly important in business financing, family business arrangements, and situations where corporate entities seek to strengthen their creditworthiness through personal guarantees from directors or shareholders.
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1. Parties: Identification of the Guarantor, the Creditor, and reference to the Principal Debtor
2. Background: Context of the guarantee, including reference to the principal debt or obligation being guaranteed
3. Definitions: Key terms used in the agreement, including 'Guaranteed Obligations', 'Guarantee Period', and other relevant definitions
4. Guarantee: Core guarantee provisions, including the specific amount guaranteed and nature of the guarantee (joint and several or simple guarantee)
5. Scope of Guarantee: Detailed description of what obligations are covered by the guarantee
6. Duration: Term of the guarantee and any conditions for its termination
7. Guarantor's Obligations: Specific obligations of the guarantor, including payment obligations and notification requirements
8. Representations and Warranties: Guarantor's confirmations regarding their capacity, understanding of obligations, and financial situation
9. Enforcement: Conditions and process for enforcing the guarantee
10. Notices: Communication requirements and contact details
11. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction
1. Security: Include when additional security is provided by the guarantor
2. Joint and Several Liability: Include when multiple guarantors are involved
3. Principal Debtor's Consent: Include when the principal debtor's explicit consent is required or provided
4. Spouse's Consent: Include when the guarantor is married and spouse's consent is required under Swiss law
5. Currency Provisions: Include for guarantees involving foreign currency obligations
6. Assignment and Transfer: Include when transfer rights need to be addressed
7. Limitation of Liability: Include when specific caps or limitations on the guarantee are agreed
8. Release Conditions: Include when specific conditions for releasing the guarantee are agreed
1. Principal Obligation Details: Details of the underlying obligation being guaranteed
2. Form of Demand: Template for making a demand under the guarantee
3. Financial Statements: Current financial statements of the guarantor if required
4. Related Security Documents: List and copies of any related security documents
5. Consent Forms: Required consent forms including spouse's consent if applicable
6. Payment Schedule: If the guarantee relates to specific payment obligations with defined schedules
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