¶¶Òõ¶ÌÊÓƵ

The Personal Guarantor Agreement Form is a crucial legal instrument in UAE business transactions, commonly used when additional security is required for financial obligations. This document is essential in situations where a creditor seeks personal assurance for a debtor's obligations, particularly in commercial lending, property transactions, or business ventures. The agreement must comply with UAE Civil Code provisions and recent regulatory requirements, including specific formalities for guarantee enforcement. It typically includes comprehensive details about the guaranteed obligations, enforcement mechanisms, and the guarantor's liability limits. The document's importance has grown with the UAE's expanding economy, becoming a standard requirement in many financial and commercial transactions where personal guarantees are sought as additional security.

1. Parties: Identification of the Guarantor, Creditor, and Principal Debtor with full legal names and addresses

2. Background: Context of the guarantee, relationship between parties, and reference to the principal debt or obligation being guaranteed

3. Definitions: Key terms used throughout the agreement including 'Guaranteed Obligations', 'Event of Default', and other relevant defined terms

4. Guarantee and Indemnity: Core section detailing the scope of the guarantee, nature of obligations, and indemnification provisions

5. Extent of Liability: Specification of the maximum liability amount and any limitations on the guarantor's obligations

6. Duration: Term of the guarantee and conditions for its continuation or termination

7. Nature of Guarantee: Specification that this is a continuing guarantee and details about its binding nature

8. Representations and Warranties: Guarantor's confirmations regarding their capacity, authority, and financial status

9. Payment Terms: Procedures and timing for payments under the guarantee, including currency and payment method

10. Events of Default: Circumstances that trigger the guarantee and enforcement rights

11. Enforcement: Creditor's rights and procedures for enforcing the guarantee

12. Notices: Communication procedures between parties

13. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes