The Employee Guarantor Form is a crucial document used in Austrian business contexts where additional security is required for employee obligations or responsibilities. This form is typically employed when employees handle significant company assets, financial responsibilities, or hold positions of trust. The document must strictly comply with Austrian legal requirements, including the ABGB provisions on guarantees, consumer protection regulations, and employment law. The Employee Guarantor Form includes mandatory warning notices, clearly defined liability limits, and specific enforcement conditions. It's particularly relevant in scenarios involving financial responsibility, asset management, or where employees have significant decision-making authority that could impact company resources.
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1. Parties: Identification of the principal debtor (employee), the creditor (employer/company), and the guarantor
2. Background: Context of the guarantee, including the employment relationship and the underlying obligations being guaranteed
3. Definitions: Key terms used in the document, including 'Guaranteed Obligations', 'Guarantee Period', and other relevant terms
4. Warning Notice: Mandatory warning notice under Austrian Consumer Protection Act regarding the nature and consequences of a guarantee
5. Scope of Guarantee: Clear definition of the obligations being guaranteed and the exact extent of the guarantor's liability
6. Duration and Termination: Period of validity for the guarantee and conditions for termination
7. Maximum Liability Amount: Specification of the maximum amount for which the guarantor can be held liable
8. Payment Terms: Conditions and process for demanding payment under the guarantee
9. Representations and Warranties: Guarantor's confirmations regarding their understanding and capacity to provide the guarantee
10. Governing Law and Jurisdiction: Confirmation of Austrian law as governing law and jurisdiction for disputes
1. Multiple Guarantors: Additional provisions for cases where more than one guarantor is involved, including joint and several liability
2. Security: Additional security provisions if the guarantee is secured by specific assets
3. Release Conditions: Specific conditions under which the guarantor may be released from obligations, particularly in case of employment termination
4. Financial Reporting: Requirements for financial information to be provided by the employee if relevant to the guaranteed obligations
5. Works Council Approval: Section acknowledging works council approval where required under Austrian labor law
1. Schedule 1 - Guaranteed Obligations: Detailed list of specific obligations covered by the guarantee
2. Schedule 2 - Payment Schedule: If applicable, schedule of payments or obligations timeline
3. Schedule 3 - Form of Demand: Template for making a formal demand under the guarantee
4. Appendix A - Financial Disclosure: Mandatory financial disclosure form for the guarantor as required by Austrian law
5. Appendix B - Warning Notice Acknowledgment: Separate signature page for acknowledging receipt and understanding of mandatory warnings
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Retail
Wholesale Trade
Manufacturing
Professional Services
Logistics and Transportation
Hospitality
Real Estate
Construction
Technology
Relevant Teams
Human Resources
Legal
Finance
Operations
Risk Management
Compliance
Treasury
Asset Management
Internal Audit
Corporate Governance
Relevant Roles
Chief Financial Officer
Finance Manager
Treasury Manager
Cash Handler
Store Manager
Warehouse Manager
Sales Director
Account Manager
Procurement Officer
Financial Controller
Branch Manager
Operations Manager
Asset Manager
Inventory Controller
Senior Accountant
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