This form is a Guaranty. The form provides that the guarantor assures the full and prompt payment of all obligations incurred by the payor.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
Think about the financial health of the business, your ability to cover the debts, and whether you're willing to take on that risk. It's always good to consult a legal expert before making a decision.
Yes, a personal guaranty is a legally binding contract. Once you sign it, you’re committing to cover the debts if the borrower defaults.
Usually, business owners or individuals who want to vouch for the financial obligations of their company need to sign a personal guaranty. It shows lenders that there’s someone reliable backing the deal.
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