Free Personal Guarantee Form Template
Words sometimes mean nothing especially in the world of business. You sometimes need a binding contract so that anything that is owed should be paid in time. There are many forms in the internet that you can fill up so that you will have binding contract with the other party. For example, if you want to borrow money to someone and you feel the need to make a binding contract with him/her so that he/she will trust you that you will pay up when the time comes, a free personal guarantee form template is all you need.
What is with this free personal guarantee form template? This is a form where you will fill up the necessary information about the lender and the borrower. You will have a binding contract after filling up and attaching the signatures in the form. The lender can know him/her in case that he/she will not pay up when the time comes.
Personal Guarantee Form
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A personal guarantee form template can help a person in so many ways. Not only that it protects the lender but it can also protect the borrower from any scams. This will stop the lender from making the interest of the principal amount in case he/she wants to have an ex-post facto change. An ex-post facto change is when the lender and the borrower officially agreed on a certain amount of interest but changes it later to a higher percentage of interest for the lender’s personal gain. This will not happen if you have a binding contract with you. This will protect the borrower’s from any unwanted payment. Additionally, the borrower will also know his/her limits when a binding contract is present. He/she can just pay up the interest first before paying up the principal amount if he/she is a little short of funds.
A personal guarantee form template can help the lender from being scammed by the borrower. This will guarantee the lender that the borrower will pay up the borrowed money in the agreed date and time. The lender will be able to sue the borrower in case that he/she does not pay the money that the borrower owed him/her. Always remember that the personal guarantee form is here to help both parties. So, what are the things that you need to fill up with this kind of form? You need to fill up the name (borrower or lender’s name), city, state, and the zip code. This is important so that the binding contract is legitimate enough in case that there are some unlawful acts committed by both parties. You also need to attach the signature of both parties so that it will be official. This will be most effective way to reduce any complication that you might encounter if you do not have any binding contract.
File Type: Docx
Size: 20 KB
Page: 1 Page
Download: Personal Guarantee Form