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Guarantor Declaration Form for New Zealand

Guarantor Declaration Form Template for New Zealand

A comprehensive legal document used in New Zealand's financial and commercial sectors where an individual or entity (the guarantor) agrees to take responsibility for another party's financial obligations if they default. The document, governed by New Zealand law including the Credit Contracts and Consumer Finance Act 2003, captures the guarantor's personal details, understanding of obligations, financial position, and formal declaration. It includes mandatory disclosures and may require certification of independent legal advice, ensuring compliance with New Zealand's consumer protection and contract law requirements.

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What is a Guarantor Declaration Form?

The Guarantor Declaration Form is a vital legal instrument used in New Zealand's financial and commercial transactions when one party agrees to guarantee the obligations of another. This document is particularly relevant when entering into loan agreements, lease contracts, or other financial commitments where additional security is required. The form must comply with New Zealand's legal framework, including the Credit Contracts and Consumer Finance Act 2003 and the Contract and Commercial Law Act 2017. It captures essential information about the guarantor's identity, financial position, and understanding of their obligations, while ensuring proper disclosure and protection for all parties involved. The document is designed to create a legally binding commitment while meeting regulatory requirements for consumer protection and financial transparency in New Zealand.

What sections should be included in a Guarantor Declaration Form?

1. Guarantor Details: Full legal name, address, contact information, and identification details of the guarantor

2. Primary Debtor Details: Information about the person or entity whose obligations are being guaranteed, including their relationship to the guarantor

3. Creditor Details: Full legal name and details of the creditor/lending institution

4. Guaranteed Obligations: Clear description of the debt or obligations being guaranteed, including the maximum amount if applicable

5. Declaration of Understanding: Guarantor's confirmation that they understand their obligations and the consequences of the guarantee

6. Independent Legal Advice: Confirmation whether independent legal advice has been received or waived

7. Financial Position Statement: Declaration of the guarantor's current financial position and ability to meet the guaranteed obligations

8. Execution Block: Signature section including witness details and date of signing

What sections are optional to include in a Guarantor Declaration Form?

1. Security Details: Used when specific assets are being provided as security for the guarantee

2. Joint and Several Liability: Required when there are multiple guarantors for the same obligation

3. Guarantee Limit: Optional section specifying any limits on the guarantee amount or duration

4. Special Conditions: Any specific conditions or limitations applying to the guarantee

What schedules should be included in a Guarantor Declaration Form?

1. Schedule 1: Statement of Financial Position: Detailed breakdown of guarantor's assets, liabilities, income, and expenses

2. Schedule 2: Details of Guaranteed Debt: Specific details of the primary debt or obligation being guaranteed

3. Appendix A: Information Statement: Mandatory information statement explaining guarantor's rights and obligations as required by NZ law

4. Appendix B: Independent Legal Advice Certificate: Certificate from legal advisor confirming advice given to guarantor (if applicable)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

New Zealand

Publisher

Ƶ

Document Type

Declaration Form

Cost

Free to use
Relevant legal definitions

























Clauses




















Relevant Industries

Banking

Financial Services

Real Estate

Property Development

Commercial Lending

Retail Banking

Consumer Finance

Business Services

Construction

Small Business

Relevant Teams

Legal

Compliance

Credit Assessment

Risk Management

Lending Operations

Customer Relations

Document Processing

Credit Operations

Retail Banking

Commercial Banking

Relevant Roles

Credit Manager

Loan Officer

Legal Counsel

Compliance Officer

Risk Manager

Account Manager

Banking Relationship Manager

Credit Analyst

Legal Administrator

Contract Administrator

Mortgage Broker

Financial Advisor

Lending Specialist

Branch Manager

Industries






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