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The Promissory Note With Personal Guarantee is a crucial financial instrument used in Malaysian business and lending transactions when a creditor requires both a direct promise to pay from a debtor and additional security through a personal guarantee. This document type is particularly relevant when the creditor needs enhanced protection for a debt obligation, combining the straightforward enforcement mechanisms of a promissory note under the Bills of Exchange Act 1949 with the additional security of a personal guarantee under the Contracts Act 1950. It's commonly used in business loans, commercial transactions, and private lending arrangements where the creditor seeks to mitigate risk through multiple layers of obligation. The document must comply with Malaysian stamping requirements and can be used as evidence in Malaysian courts when properly executed.

1. Parties: Identifies the Maker (promisor), Payee (promisee), and Guarantor with their full legal names and addresses

2. Background: Brief context of the debt obligation and reason for the personal guarantee

3. Definitions: Defines key terms used in the document including 'Principal Sum', 'Interest Rate', 'Due Date', and 'Event of Default'

4. Promise to Pay: Clear statement of the unconditional promise to pay the specified sum, including the amount, interest rate, and payment date(s)

5. Payment Terms: Details of how and where payments will be made, including installment provisions if applicable

6. Interest Provisions: Specification of interest calculation method, payment periods, and default interest rates

7. Personal Guarantee: Terms of the guarantee, including the guarantor's unconditional promise to pay upon default

8. Representations and Warranties: Basic declarations by both the maker and guarantor regarding their capacity and authority

9. Events of Default: Circumstances constituting default and consequences thereof

10. Enforcement: Rights and remedies of the payee upon default, including against both maker and guarantor

11. Notices: Method and addresses for serving notices between parties

12. Governing Law: Specification of Malaysian law as governing law and jurisdiction