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.
If the borrower defaults, the lender can seek payment from the guarantor. They can pursue your assets or income to recover what they're owed. It's like a game of tag, and you don't want to be 'it'!
Once signed, a personal guaranty usually can't be revoked without the consent of all parties involved. It's a commitment that sticks—like glue!
Anyone who is willing and able to take on the responsibility can be a personal guarantor. This could be a family member, friend, or business partner—just someone you trust and who trusts you!
A personal guaranty is a promise made by an individual to take responsibility for a debt or obligation if the primary borrower defaults. It's like saying, 'I've got your back!'
Trusted and secure by over 3 million people of the world’s leading companies