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Guarantor Letter for Austria

Guarantor Letter Template for Austria

A Guarantor Letter under Austrian law (governed by §§ 1346-1367 of the Austrian Civil Code - ABGB) is a formal written undertaking where one party (the guarantor) commits to be responsible for the debt, default, or financial obligations of another party (the principal debtor) to a third party (the beneficiary). The document must meet specific formal requirements under Austrian law, including clear identification of all parties, explicit statement of the guarantee obligation, and defined scope of the guarantee. When involving consumers as guarantors, additional protective provisions under the Consumer Protection Act (KSchG) must be incorporated.

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What is a Guarantor Letter?

The Guarantor Letter is a fundamental instrument in Austrian business and financial transactions, used when one party needs to provide security for another's obligations. This document type is governed primarily by the Austrian Civil Code (ABGB) and, where applicable, the Commercial Code (UGB) and Consumer Protection Act (KSchG). The Guarantor Letter must clearly state the guarantee commitment, specify the guaranteed obligations, and include all mandatory elements required by Austrian law. It's commonly used in various business contexts, from securing commercial loans to supporting construction contracts or lease agreements. The document's format and content must strictly comply with Austrian legal requirements, particularly regarding form requirements and, in cases involving consumer guarantors, mandatory warning notices and protective provisions.

What sections should be included in a Guarantor Letter?

1. Letter Header: Date, recipient details, and reference numbers

2. Subject Line: Clear identification of the document as a Guarantor Letter and reference to the underlying obligation

3. Identification of Parties: Full details of the Guarantor, Principal Debtor, and Beneficiary

4. Reference to Principal Obligation: Clear description of the underlying debt or obligation being guaranteed

5. Guarantee Declaration: Express and unequivocal statement of guarantee in accordance with § 1346 ABGB

6. Scope of Guarantee: Specific amount or limit of the guarantee and whether it covers interest and costs

7. Duration: Term of the guarantee and any expiry conditions

8. Payment Terms: Conditions and process for demanding payment under the guarantee

9. Signature Block: Formal signature section with full name and title of authorized signatory

What sections are optional to include in a Guarantor Letter?

1. Consumer Protection Notice: Mandatory warning notice if the guarantor is a consumer, as required by § 25c KSchG

2. Demand Requirements: Specific formal requirements for making a demand under the guarantee

3. Guarantee Limitations: Any specific exclusions or limitations to the guarantee obligation

4. Transfer Provisions: Terms regarding whether the guarantee can be assigned or transferred

5. Choice of Law and Jurisdiction: While Austrian law is applicable, specific jurisdiction provisions may be needed for international parties

6. Bank Details: Payment account details if the guarantee involves direct payment obligations

What schedules should be included in a Guarantor Letter?

1. Copy of Principal Agreement: Reference copy of the underlying agreement or obligation being guaranteed

2. Specimen Signature: Where required, especially for bank guarantees

3. Form of Demand: Template for making a valid demand under the guarantee

4. Corporate Authorization: If the guarantor is a company, evidence of authority to issue the guarantee

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Austria

Publisher

Ƶ

Document Type

Service Letter

Cost

Free to use
Relevant legal definitions















Clauses


















Relevant Industries

Banking and Financial Services

Real Estate

Construction

Manufacturing

Retail

Import/Export

Professional Services

Energy

Infrastructure

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Secretariat

Credit Control

Commercial Operations

Banking Relations

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Lawyer

Risk Manager

Credit Manager

Treasury Manager

Contract Manager

Commercial Director

Company Secretary

Banking Relationship Manager

Compliance Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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