The Personal Guarantee Loan Agreement is a crucial document in Malaysian lending practices, commonly used when a borrower requires additional security to obtain a loan. This agreement, governed by Malaysian law including the Contracts Act 1950 and Financial Services Act 2013, is particularly relevant when the borrower's creditworthiness alone is insufficient for loan approval. The document details the three-way relationship between the lender, borrower, and guarantor, specifying the guarantee's terms, extent of the guarantor's liability, and enforcement procedures. It's widely used in both commercial and personal lending scenarios, especially for small business loans, property financing, and corporate borrowing where personal guarantees from directors or shareholders are required. The agreement must comply with Malaysian banking regulations and ensure proper protection for all parties while maintaining clarity on the guarantor's obligations and rights.
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1. Parties: Identifies the lender, borrower, and guarantor(s) with their full legal names and addresses
2. Background: Explains the context of the loan and guarantee arrangement, including the borrower's request for the loan and the guarantor's agreement to guarantee it
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Loan Terms: Details of the loan including principal amount, interest rate, tenure, and repayment schedule
5. Guarantee Provisions: Core terms of the guarantee including scope, extent of liability, and nature of the guarantee (continuing guarantee)
6. Guarantor's Representations and Warranties: Statements and assurances from the guarantor regarding their capacity and authority to provide the guarantee
7. Guarantor's Covenants: Ongoing obligations and promises of the guarantor
8. Events of Default: Circumstances that constitute default and trigger enforcement of the guarantee
9. Enforcement and Remedies: Rights and remedies available to the lender upon default
10. Payments and Interest: Details of how payments should be made and interest calculations
11. Notices: How formal communications between parties should be made and delivered
12. General Provisions: Standard clauses including governing law, jurisdiction, and amendment procedures
1. Multiple Guarantors: Additional provisions for when there is more than one guarantor, including joint and several liability
2. Security Provisions: If the guarantee is supported by specific security assets
3. Change of Guarantor: Procedures for substituting or adding guarantors
4. Independent Legal Advice: Confirmation that the guarantor has received independent legal advice, recommended for consumer guarantees
5. Cross Default: Provisions linking this guarantee to other facilities or agreements
6. Currency Provisions: Required if the loan is in a foreign currency
7. Insurance Requirements: If specific insurance is required for the guarantor
8. Assignment and Transfer: If the rights under the guarantee can be assigned or transferred
1. Schedule 1 - Loan Details: Detailed breakdown of the loan amount, interest calculations, and repayment schedule
2. Schedule 2 - Guarantor Information: Detailed information about the guarantor(s) including their assets and liabilities
3. Schedule 3 - Security Details: If applicable, details of any security provided to support the guarantee
4. Schedule 4 - Specific Terms and Conditions: Any specific terms or conditions applicable to this particular guarantee
5. Appendix A - Form of Notice: Standard forms for notices and communications under the agreement
6. Appendix B - Form of Demand: Standard form for making a demand under the guarantee
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Small Business Lending
Corporate Finance
Microfinance
Real Estate Finance
Commercial Lending
Consumer Finance
Asset Finance
Islamic Banking
Relevant Teams
Legal
Credit Risk
Compliance
Business Development
Loan Operations
Documentation
Underwriting
Corporate Banking
Retail Banking
Risk Management
Relevant Roles
Legal Counsel
Credit Risk Manager
Loan Officer
Compliance Officer
Business Development Manager
Relationship Manager
Credit Analyst
Contract Administrator
Banking Operations Manager
Financial Advisor
Corporate Secretary
Risk Assessment Officer
Legal Documentation Specialist
Banking Executive
Underwriting Manager
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