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Guarantee And Indemnity Form
"I need a Guarantee and Indemnity Form under Philippine law for three corporate guarantors jointly securing a PHP 50 million business loan from ABC Bank, with the guarantee period starting March 1, 2025."
1. Parties: Identifies and defines the Guarantor(s), the Creditor/Beneficiary, and the Principal Debtor
2. Background: Explains the context of the guarantee, including reference to the principal debt or obligation being guaranteed
3. Definitions: Defines key terms used throughout the document
4. Guarantee and Indemnity: Core section detailing the guarantee obligations and indemnity provisions
5. Scope of Guarantee: Defines the extent and limitations of the guaranteed obligations
6. Duration of Guarantee: Specifies when the guarantee becomes effective and when it terminates
7. Nature of Liability: Establishes whether the liability is joint, several, or joint and several
8. Demands and Payments: Procedures for making demands under the guarantee and payment requirements
9. Continuing Security: Confirms the guarantee as a continuing security until full discharge
10. Representations and Warranties: Guarantor's confirmations about their capacity and authority
11. Preservation of Rights: Creditor's rights preservation and non-waiver provisions
12. Governing Law and Jurisdiction: Specifies Philippine law as governing law and jurisdiction for disputes
13. Execution: Signature blocks and execution formalities
1. Corporate Authority: Required when the guarantor is a corporation, including board resolutions and corporate approvals
2. Security Provisions: Include when the guarantee is secured by specific assets or collateral
3. Multiple Guarantors: Additional provisions needed when there are multiple guarantors
4. Assignment and Transfer: Include if the guarantee rights may be assigned or transferred
5. Foreign Currency Provisions: Required when the guaranteed obligations are in foreign currency
6. Electronic Execution: Include if the guarantee may be executed electronically under the E-Commerce Act
7. Consumer Protection Provisions: Required when the guarantor is considered a consumer under Philippine law
1. Schedule 1 - Guaranteed Obligations: Detailed description of the obligations being guaranteed
2. Schedule 2 - Secured Assets: List and description of any assets securing the guarantee (if applicable)
3. Schedule 3 - Form of Demand: Standard form for making demands under the guarantee
4. Schedule 4 - Corporate Authorizations: Copies of relevant corporate approvals and resolutions (for corporate guarantors)
5. Appendix A - Principal Agreement: Copy of the principal agreement being guaranteed
6. Appendix B - Guarantor Information: Detailed information about the guarantor(s) and their contact details
Authors
Banking and Financial Services
Real Estate and Property Development
Construction
Manufacturing
Retail and Commercial
Import/Export
Infrastructure Development
Telecommunications
Energy and Utilities
Agriculture and Agribusiness
Legal
Finance
Risk Management
Compliance
Treasury
Credit Administration
Corporate Secretariat
Commercial Operations
Business Development
Contract Administration
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Secretary
Risk Manager
Credit Manager
Treasury Manager
Compliance Officer
Commercial Director
Contract Manager
Corporate Lawyer
Banking Officer
Senior Loan Officer
Business Development Manager
Financial Controller
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