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Personal Guarantee Promissory Note

Personal Guarantee Promissory Note Template for United Arab Emirates

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Key Requirements PROMPT example:

Personal Guarantee Promissory Note

"I need a Personal Guarantee Promissory Note under UAE law for a commercial loan of AED 5 million, where three individual shareholders will jointly guarantee the debt of our trading company, with the note payable to Emirates NBD Bank on March 15, 2025."

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Document background
The Personal Guarantee Promissory Note is commonly used in the United Arab Emirates when a creditor requires additional security beyond standard corporate guarantees or collateral. This document is particularly valuable in situations where business loans or financial facilities are extended to companies, but personal commitment from shareholders, directors, or related individuals is required. The instrument combines the enforcement advantages of a promissory note under UAE Commercial Law with the security features of a personal guarantee under Civil Law. It typically includes details of the guaranteed amount, payment terms, enforcement mechanisms, and the scope of the guarantor's liability. The document is widely used in banking transactions, commercial financing, and business arrangements where personal assurance of payment is crucial for the transaction's security.
Suggested Sections

1. Parties: Identification of the Guarantor (maker of the note), the Beneficiary (in whose favor the note is made), and reference to the Primary Debtor

2. Date and Place of Execution: Specific date and location where the promissory note is executed, which is crucial for enforcement

3. Unconditional Promise to Pay: Clear statement of unconditional promise to pay a specific sum, including the currency and amount in both numbers and words

4. Payment Terms: Specific date or timeline for payment, whether it's on demand or at a specified future date

5. Guarantee Declaration: Express statement of personal guarantee, confirming joint and several liability with the primary debtor

6. Scope of Guarantee: Details of the obligations being guaranteed, including principal debt, interest, and other charges

7. Enforcement Provisions: Statement allowing immediate enforcement without notice or legal proceedings as per UAE law

8. Governing Law and Jurisdiction: Explicit mention of UAE law as governing law and UAE courts' jurisdiction

Optional Sections

1. Interest Rate Declaration: Include when the guaranteed amount includes interest, specifying the rate and calculation method

2. Security Provisions: Include when additional security is provided alongside the personal guarantee

3. Cross Default Provisions: Include when the guarantee is linked to other financial obligations or agreements

4. Notice Requirements: Include when specific notice procedures are required beyond standard legal requirements

5. Assignment Rights: Include when the right to assign the promissory note needs to be explicitly stated or restricted

Suggested Schedules

1. Schedule 1 - Primary Debt Details: Details of the primary debt being guaranteed, including loan agreement references

2. Schedule 2 - Payment Schedule: If applicable, detailed schedule of installment payments including dates and amounts

3. Schedule 3 - Security Details: If applicable, details of any additional security provided

4. Appendix A - Copy of Primary Debtor's Agreement: Attached copy of the main agreement or debt instrument being guaranteed

5. Appendix B - Guarantor's Asset Declaration: If required, declaration of guarantor's assets and financial position

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Banking and Financial Services

Real Estate and Construction

Trading and Commerce

Manufacturing

Small and Medium Enterprises

Corporate Services

Retail

Hospitality

Industrial

Professional Services

Relevant Teams

Legal

Finance

Credit

Risk Management

Compliance

Corporate Banking

Treasury

Commercial

Business Development

Company Secretariat

Relevant Roles

Chief Financial Officer

Finance Director

Credit Manager

Legal Counsel

Corporate Banking Manager

Risk Manager

Compliance Officer

Treasury Manager

Commercial Director

Business Development Manager

Company Secretary

Credit Risk Officer

Banking Relationship Manager

Financial Controller

Legal Director

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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