Document background
The Authorised Guarantee Agreement (AGA) is a crucial document in Belgian commercial property transactions where a tenant wishes to assign their lease to another party. It provides security for landlords by ensuring the original tenant guarantees the new tenant's performance of lease obligations. This document becomes necessary when a lease assignment is proposed, and the landlord requires continued security from the original tenant. The agreement must comply with Belgian civil and commercial law requirements, including potential notarial requirements and registration obligations. It typically includes detailed provisions on the scope of guarantee, payment obligations, enforcement mechanisms, and termination conditions. The document is particularly important in commercial real estate transactions where substantial rental obligations or strategic properties are involved.
