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.
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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
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
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
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Legal
Finance
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Risk Management
Compliance
Corporate Secretariat
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