Guarantee Letter

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GUARANTEE LETTER

[DATE]

[RECIPIENT NAME]

We refer to agreement/contract dated [DATE] on the continuous [Contract Description] between you and Borrower [NAME], Borrower Address [AREA/PLACE], and the guarantee to secure the Borrower’s fulfillment of [HIS/HER] payment obligations under the Contract.

We, the undersigned, hereby irrevocably declare that we jointly and severally guarantee to commit full payment, as demanded, of the amount that the Borrower owes you under the contract. The total amount of payment will not exceed [NUMBER] USD.

Upon the receipt of your first written claim stating that the Borrower has not fulfilled [HIS/HER] legal obligations, payment shall be made with no objections or legal proceedings of any kind.

Furthermore, there will be no amendment to the terms of the agreement signed between the Borrower and the Lender that can renounce our obligation under the present guarantee. We suspend our right to be informed of any addition or amendment to the agreement.

It is noted that until the Borrower has made the payment of the balance of the grant pursuant to the provisions of the agreement, this financial guarantee shall remain in effect. The Lender undertakes to release the guarantee within [NUMBER] days following that payment.

This guarantee is governed by and construed in accordance with the laws of [STATE/COUNTRY]. The [STATE] courts have the jurisdiction to matters relating to the agreement. Therefore, the [STATE] courts shall have jurisdiction over this guarantee.

Regards,

[YOUR SIGNATURE]

[YOUR NAME]