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Guarantee Rental Agreement
"I need a Guarantee Rental Agreement for a commercial property in Dubai, UAE, where a parent company will act as guarantor for its subsidiary's 5-year office lease starting March 2025, with the guarantee covering both rent and service charges."
1. Parties: Identification of all parties: Guarantor, Landlord, and Tenant, including full legal names, addresses, and relevant identification numbers
2. Background: Context of the rental agreement and the reason for the guarantee
3. Definitions: Key terms used throughout the agreement, including Property, Guarantee Amount, Rental Period, and other relevant terms
4. Scope of Guarantee: Detailed description of what the guarantee covers, including rent, utilities, maintenance, and any other obligations
5. Duration of Guarantee: Term of the guarantee, including start date and conditions for termination
6. Guarantor's Obligations: Specific responsibilities and commitments of the guarantor, including payment terms and conditions
7. Enforcement and Claims: Process for making claims against the guarantee and enforcement procedures
8. Landlord's Rights: Rights of the landlord in relation to the guarantee, including when and how it can be called upon
9. Notices: Requirements for formal communications between parties
10. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts' jurisdiction
11. Execution: Signature blocks and execution requirements
1. Bank Guarantee Provisions: Specific provisions when the guarantee is provided by a bank rather than an individual or corporate guarantor
2. Multiple Guarantors: Additional provisions for cases involving more than one guarantor, including joint and several liability
3. Property Management: Provisions related to property management companies if they are involved in managing the guaranteed property
4. Insurance Requirements: Specific insurance obligations related to the guarantee
5. Force Majeure: Provisions for extraordinary circumstances affecting the guarantee obligations
6. Assignment and Transfer: Provisions allowing or restricting the transfer of guarantee obligations
7. Dispute Resolution: Alternative dispute resolution mechanisms such as arbitration or mediation
1. Schedule 1 - Property Details: Detailed description of the rental property, including address, size, and condition
2. Schedule 2 - Rental Payment Schedule: Breakdown of rent payments, due dates, and payment methods
3. Schedule 3 - Guarantee Amount Calculation: Detailed calculation of the guarantee amount and any applicable conditions
4. Schedule 4 - Required Documents: List of supporting documents required for the guarantee, including ID copies and financial statements
5. Schedule 5 - Property Inspection Report: Initial condition report of the property relevant to the guarantee obligations
6. Appendix A - Form of Demand: Template for making a claim against the guarantee
7. Appendix B - Registration Requirements: Documentation required for registering the guarantee with relevant authorities (e.g., EJARI)
Authors
Real Estate
Banking & Financial Services
Commercial Property
Residential Property
Retail
Hospitality
Industrial & Manufacturing
Professional Services
Healthcare
Education
Legal
Real Estate
Facilities Management
Risk & Compliance
Finance
Operations
Corporate Services
Administration
Property Management
Asset Management
Real Estate Manager
Property Manager
Legal Counsel
Corporate Housing Manager
Facilities Manager
Lease Administrator
Risk Manager
Compliance Officer
Commercial Director
Chief Financial Officer
Real Estate Agent
Property Consultant
Tenancy Contract Specialist
Real Estate Legal Advisor
Asset Manager
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