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Guarantor Release Form

Guarantor Release Form Template for Hong Kong

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Key Requirements PROMPT example:

Guarantor Release Form

"I need a Guarantor Release Form for ABC Bank Limited to release me as guarantor from a HKD 2 million business loan guarantee I provided for XYZ Trading Company, with the release to take effect from March 1, 2025."

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Document background
The Guarantor Release Form is a crucial legal document used in Hong Kong when a party wishes to be discharged from their obligations as a guarantor, or when a creditor agrees to release a guarantor from their responsibilities. This document is commonly used in situations where the original debt has been satisfied, the primary debtor's circumstances have significantly improved, or as part of a broader restructuring of financial arrangements. The form must comply with Hong Kong's legal requirements and typically includes detailed information about the original guarantee, the scope of the release, and any conditions attached to it. It's essential for managing financial and legal risks while providing clarity and certainty to all parties involved in the guarantee arrangement.
Suggested Sections

1. Parties: Identification of all relevant parties including the Creditor, Debtor, and Guarantor being released

2. Background: Recitals detailing the original guarantee agreement, its date, and key terms, and the circumstances leading to this release

3. Definitions: Key terms used in the document, including references to the Original Guarantee, Guaranteed Obligations, and Release Date

4. Release: The operative clause that formally releases the Guarantor from their obligations under the guarantee

5. Effective Date: Specification of when the release takes effect

6. Acknowledgment: Confirmation that no amounts are due from the Guarantor under the guarantee

7. Governing Law: Specification that Hong Kong law governs the release

8. Execution: Signature blocks for all parties

Optional Sections

1. Partial Release: Used when the guarantor is only being released from part of their obligations

2. Continuing Obligations: Include when certain obligations of the guarantor survive the release

3. Representations and Warranties: Added when parties need to make specific confirmations about their authority or the status of the guarantee

4. Return of Documents: Include when original guarantee documents need to be returned or marked as cancelled

5. Confidentiality: Required when parties wish to keep the terms of the release confidential

6. Costs: Include when there are specific arrangements about who bears the costs of the release

Suggested Schedules

1. Schedule 1 - Original Guarantee: Copy or details of the original guarantee agreement being released

2. Schedule 2 - Released Obligations: Detailed list of the specific obligations from which the guarantor is being released (particularly important for partial releases)

3. Schedule 3 - Conditions Precedent: List of any conditions that must be satisfied before the release becomes effective

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




















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Relevant Industries

Banking and Financial Services

Real Estate

Commercial Lending

Construction

Manufacturing

Retail

Professional Services

Healthcare

Hospitality

Import/Export

Telecommunications

Relevant Teams

Legal

Finance

Risk Management

Compliance

Treasury

Commercial Operations

Credit Control

Corporate Secretarial

Contract Management

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Manager

Credit Manager

Risk Manager

Company Secretary

Compliance Officer

Commercial Director

Chief Financial Officer

Banking Relationship Manager

Contract Administrator

Legal Operations Manager

Treasury Manager

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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