������Ƶ

A Personal Guarantee Lease Agreement is commonly used in commercial and residential leasing situations where additional security is required beyond the tenant's covenant. This document is particularly relevant when dealing with new businesses, companies with limited trading history, or situations where the landlord requires extra assurance. Under English and Welsh law, the agreement must be in writing and clearly define the guarantor's obligations, including payment of rent, compliance with lease terms, and liability for damages. It serves as a crucial risk management tool for property owners while facilitating lease arrangements that might otherwise be rejected.

1. Parties: Identifies guarantor, landlord, and tenant with full legal names and addresses

2. Background: Explains context of guarantee and references main lease agreement

3. Definitions: Defines key terms used throughout the agreement

4. Guarantee and Indemnity: Core obligations of guarantor and scope of guarantee

5. Duration of Guarantee: Period of effectiveness and termination conditions

6. Guarantor's Obligations: Detailed list of specific obligations and responsibilities

7. Enforcement: Landlord's rights to enforce guarantee