The Guarantor Lease Agreement is commonly used in Singapore's property market when additional security is required for a lease arrangement. This typically occurs when a tenant has limited credit history, is a student, or is new to the jurisdiction. The agreement, governed by Singapore law, provides landlords with additional security while enabling tenants who might otherwise not qualify to enter into lease agreements. The document outlines the specific obligations being guaranteed, the extent of the guarantor's liability, and the circumstances under which the guarantee can be enforced or terminated. It must comply with Singapore's property laws, including specific provisions for HDB properties where applicable.
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Key Requirements PROMPT example:
Guarantor Lease Agreement
"I need a Guarantor Lease Agreement under Singapore law for a foreign student tenant renting my condo unit, with their parent company in Japan acting as corporate guarantor, starting from March 2025."
1. Parties: Identifies landlord, tenant, and guarantor with full legal names and addresses
2. Background: Explains context of lease and necessity of guarantee
3. Definitions: Defines key terms used throughout the agreement
4. Guarantee and Indemnity: Core terms of guarantee, including scope and duration
5. Guarantor's Obligations: Specific responsibilities and commitments of the guarantor
6. Duration of Guarantee: Term of guarantee and conditions for termination
7. Enforcement: Mechanisms for enforcing the guarantee
8. Governing Law: Specifies Singapore law as governing law
1. HDB Compliance: Required if property is HDB, includes specific HDB requirements
2. Foreign Tenant Provisions: Required if tenant is foreign national, includes visa requirements
3. Multiple Guarantors: Required if more than one guarantor, defines joint and several liability
4. Corporate Guarantee Provisions: Required if guarantor is a company rather than individual
1. Schedule 1 - Principal Lease: Copy of main lease agreement being guaranteed
2. Schedule 2 - Property Details: Full description of leased property
3. Schedule 3 - Guaranteed Obligations: Detailed list of obligations covered by guarantee
4. Appendix A - Guarantor's Details: Full details of guarantor including financial information
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