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Employee Guarantor Form for Hong Kong

Employee Guarantor Form Template for Hong Kong

A Hong Kong law-governed document that establishes a legally binding guarantee arrangement where a third party (the guarantor) provides a guarantee to an employer in respect of an employee's obligations, liabilities, or potential losses arising from their employment. The document creates a secondary obligation on the guarantor to step in if the employee defaults on their obligations or causes losses to the employer. It includes specific provisions compliant with Hong Kong guarantee law requirements, including clear identification of guaranteed obligations, enforcement mechanisms, and necessary representations and warranties.

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What is a Employee Guarantor Form?

The Employee Guarantor Form is commonly used in Hong Kong business contexts where employers seek additional security for potential risks associated with employee positions involving financial responsibility, access to valuable assets, or significant decision-making authority. This document is particularly relevant in situations where employees handle large sums of money, have access to valuable inventory, or hold positions of significant trust. The form creates a legally binding guarantee under Hong Kong law, where a third party (typically an individual or corporate entity) agrees to be liable for any losses, damages, or unfulfilled obligations of the employee. The document is structured to comply with Hong Kong's Contract Ordinance and related legislation, ensuring enforceability while protecting all parties' interests through clear definition of the guarantee's scope, duration, and enforcement mechanisms.

What sections should be included in a Employee Guarantor Form?

1. Parties: Identifies the employer (creditor), employee (principal debtor), and guarantor

2. Background: Brief context explaining the employment relationship and need for guarantee

3. Definitions: Defines key terms used in the document including 'Guaranteed Obligations', 'Employment Agreement', etc.

4. Guarantee and Indemnity: Core section detailing the guarantee obligations and indemnity provisions

5. Scope of Guarantee: Specifies exactly what obligations are covered by the guarantee

6. Duration: Specifies the term of the guarantee and any conditions for termination

7. Guarantor's Representations and Warranties: Statements confirming guarantor's capacity and authority to provide the guarantee

8. Enforcement: Procedures and conditions for enforcing the guarantee

9. Governing Law and Jurisdiction: Confirms Hong Kong law governs and Hong Kong courts have jurisdiction

What sections are optional to include in a Employee Guarantor Form?

1. Joint and Several Liability: Required when there are multiple guarantors

2. Financial Cap: Include when the guarantee amount needs to be capped

3. Specific Assets: Include when the guarantee is secured against specific assets

4. Foreign Currency Provisions: Required when guaranteed obligations may be in foreign currency

5. Change of Control: Include for corporate guarantors to address ownership changes

What schedules should be included in a Employee Guarantor Form?

1. Schedule 1 - Guaranteed Obligations: Detailed list of specific obligations being guaranteed

2. Schedule 2 - Employee's Employment Terms: Summary of key employment terms relevant to the guarantee

3. Schedule 3 - Form of Demand: Template for making formal demands under the guarantee

4. Appendix A - Guarantor's Statement of Assets: Optional declaration of guarantor's financial position

5. Appendix B - Consent Form: Data privacy and information sharing consent form

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

Hong Kong

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions





















Clauses





















Relevant Industries

Financial Services

Banking

Insurance

Real Estate

Retail

Trading

Import/Export

Professional Services

Technology

Manufacturing

Logistics

Hospitality

Relevant Teams

Legal

Human Resources

Finance

Operations

Risk Management

Compliance

Treasury

Internal Audit

Corporate Governance

Administration

Relevant Roles

Chief Financial Officer

Finance Manager

Treasury Manager

Cash Handler

Retail Manager

Store Manager

Warehouse Manager

Sales Executive

Trading Manager

Account Manager

Investment Advisor

Portfolio Manager

Company Director

Operations Manager

Procurement Manager

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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