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Guarantee For Rental Agreement
"I need a Guarantee For Rental Agreement where ABC Corporation (parent company) guarantees the rental obligations of ABC Trading LLC (tenant) for a commercial warehouse in Dubai, with a guarantee amount of AED 500,000 for a lease starting March 1, 2025."
1. Parties: Identifies and provides full details of the Guarantor, Landlord (Beneficiary), and Tenant (Primary Obligor)
2. Background: Describes the underlying rental agreement and the context for the guarantee
3. Definitions: Defines key terms used throughout the guarantee agreement
4. Guarantee and Indemnity: Core section detailing the scope and nature of the guarantee obligations
5. Limit of Liability: Specifies the maximum amount of the guarantor's liability and any limitations
6. Duration of Guarantee: Specifies the term of the guarantee and conditions for termination
7. Payment Terms: Details when and how payments under the guarantee must be made
8. Guarantor's Representations and Warranties: Statements confirming the guarantor's capacity and authority to provide the guarantee
9. Enforcement: Procedures for claiming under the guarantee and enforcement mechanisms
10. Notices: Communication requirements and contact details for all parties
11. Governing Law and Jurisdiction: Confirms UAE law governance and jurisdiction for disputes
1. Corporate Authority: Required only when the guarantor is a corporate entity, detailing corporate approvals
2. Multiple Guarantors: Include when there is more than one guarantor, defining joint and several liability
3. Assignment: Include if assignment of the guarantee rights is to be permitted
4. Bank Guarantee Provisions: Required when the guarantee is provided by a bank rather than an individual or corporate entity
5. Foreign Law Interface: Include when any party is based outside the UAE or foreign law elements are involved
1. Schedule 1 - The Rental Agreement: Copy or key details of the underlying rental agreement being guaranteed
2. Schedule 2 - Property Details: Detailed description of the rental property covered by the guarantee
3. Schedule 3 - Payment Schedule: Details of the rental payment obligations being guaranteed
4. Schedule 4 - Guarantee Amount Calculation: Breakdown of how the guarantee amount is calculated
5. Appendix A - Required Notices Format: Template formats for various notices under the guarantee
6. Appendix B - Corporate Authorizations: Copies of relevant corporate authorizations (if applicable)
Authors
Real Estate
Banking & Financial Services
Corporate Services
Residential Property
Commercial Property
Retail
Hospitality
Industrial & Warehousing
Professional Services
Education
Legal
Real Estate
Property Management
Corporate Services
Facilities Management
Risk & Compliance
Finance
Treasury
Housing
Tenant Relations
Commercial Leasing
Corporate Real Estate
Legal Counsel
Real Estate Manager
Property Manager
Leasing Manager
Corporate Services Manager
Facilities Manager
Risk Manager
Compliance Officer
Real Estate Director
Treasury Manager
Financial Controller
Housing Manager
Tenant Relations Manager
Commercial Lease Administrator
Corporate Real Estate Manager
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