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Guarantor Release Form
"I need a Guarantor Release Form to discharge my father as guarantor for my business loan from ABC Bank, as the loan has been fully repaid in January 2025 and we want to clear all obligations."
1. Date: Date of release execution and parties involved
2. Parties: Identification of creditor, guarantor being released, and original debtor
3. Reference to Original Guarantee: Details of the original guarantee including date, parties, and scope of the original guarantee
4. Release Statement: Clear and unambiguous statement of release and discharge from the guarantee obligations
5. Execution Block: Signature blocks for all parties with witnessing requirements
1. Partial Release Provisions: Used when only specific obligations under the guarantee are being released while others remain in force
2. Consideration Statement: Details of any consideration provided for the release, if applicable
3. Reservation of Rights: Provisions preserving rights against other parties when multiple guarantors exist
4. Conditions Precedent: Any conditions that must be satisfied before the release becomes effective
1. Schedule A - Original Guarantee: Copy or details of the original guarantee document being released
2. Schedule B - Payment Schedule: Details of any payment arrangements or conditions tied to the release
3. Schedule C - Released Obligations: Detailed list of specific obligations being released (for partial releases)
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