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Guarantor Lease Agreement

Guarantor Lease Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Guarantor Lease Agreement

"I need a Guarantor Lease Agreement under Saudi law for a commercial office space in Riyadh, where a corporate tenant's parent company will act as guarantor, with the lease term starting March 1, 2025."

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Document background
The Guarantor Lease Agreement is essential in the Saudi Arabian real estate market where additional security is required for lease arrangements. This document is commonly used when a tenant's creditworthiness needs to be supplemented by a third-party guarantee, such as in commercial leases, residential rentals for students or first-time renters, or high-value property leases. The agreement combines standard lease provisions with guarantee clauses that comply with both civil law and Shariah principles. It must be drafted in accordance with Saudi Arabia's rental regulations, including registration on the Ejar platform, and typically includes detailed provisions about the property, payment terms, maintenance responsibilities, and the specific obligations of the guarantor. The document is particularly relevant in today's market where landlords seek additional security for their rental income while complying with local legal requirements.
Suggested Sections

1. Parties: Identification of the Landlord, Tenant, and Guarantor with full legal names and contact details as required by Saudi law

2. Background: Context of the lease agreement and the requirement for a guarantor

3. Definitions: Key terms used throughout the agreement, including Property, Term, Rent, and Guarantee obligations

4. Property Details: Comprehensive description of the leased property as required for registration under Saudi law

5. Lease Terms: Duration, renewal options, and rent payment terms

6. Tenant Obligations: Responsibilities and obligations of the tenant under the lease

7. Landlord Obligations: Responsibilities and obligations of the landlord

8. Guarantee Provisions: Scope and extent of the guarantor's obligations and liability

9. Payment Terms: Detailed rent payment schedule, security deposit, and payment methods

10. Maintenance and Repairs: Responsibilities for property maintenance and repairs

11. Insurance Requirements: Required insurance coverage for the property

12. Default and Remedies: Consequences of default by any party and available remedies

13. Termination: Conditions and procedures for termination of the agreement

14. Governing Law: Confirmation of Saudi law and Shariah principles as governing law

15. Notices: Process for serving formal notices between parties

16. Execution: Signature blocks for all three parties and witness requirements

Optional Sections

1. Property Use Restrictions: Specific restrictions on property use, relevant for commercial properties or properties in special zones

2. Utilities and Services: Allocation of responsibility for utilities, relevant when not standardized in the building

3. Subletting Provisions: Terms regarding subletting, if permitted

4. Guarantor Financial Statements: Requirements for ongoing financial reporting by guarantor, relevant for commercial leases

5. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID

6. Dispute Resolution: Alternative dispute resolution procedures, if preferred over standard court proceedings

7. Language Provisions: Required for dual-language agreements when one party is non-Arabic speaking

Suggested Schedules

1. Schedule 1 - Property Description: Detailed property specifications, floor plans, and photographs

2. Schedule 2 - Rent Payment Schedule: Detailed breakdown of rent payments and due dates

3. Schedule 3 - Inventory List: List of furnishings and equipment included in the lease, if any

4. Schedule 4 - Guarantor Financial Information: Financial statements or proof of financial capacity of the guarantor

5. Schedule 5 - Property Condition Report: Initial condition report with photographs

6. Schedule 6 - Building Rules and Regulations: If applicable for apartment buildings or commercial complexes

7. Appendix A - Required Government Documentation: Copies of required government registrations and permits

8. Appendix B - Maintenance Service Level Agreement: Detailed maintenance responsibilities and response times

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

































Clauses






























Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Hospitality

Education

Healthcare

Industrial

Office Space

Student Housing

Banking & Finance

Legal Services

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Risk & Compliance

Operations

Contract Administration

Corporate Services

Student Services

Asset Management

Relevant Roles

Real Estate Manager

Property Manager

Legal Counsel

Compliance Officer

Real Estate Agent

Leasing Manager

Facilities Manager

Contract Administrator

Risk Manager

Corporate Housing Manager

Student Housing Coordinator

Commercial Lease Administrator

Real Estate Operations Director

Legal Operations Manager

Property Services Coordinator

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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