Download Guarantor Release Form - Singapore

Guarantor Release Form for Singapore

Guarantor Release Form Template for Singapore

A legally binding document under Singapore law that formally releases a guarantor from their obligations under a previous guarantee agreement. This document terminates the guarantor's liability and responsibilities while ensuring compliance with Singapore's Civil Law Act and related legislation. It provides clear documentation of the release and protects both the creditor and guarantor in the transaction.

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What is a Guarantor Release Form?

The Guarantor Release Form is a critical document used in Singapore when a party wishes to discharge a guarantor from their obligations under a guarantee agreement. It is commonly used when debts have been satisfied, when restructuring financial arrangements, or when replacing guarantors. The document must comply with Singapore's strict requirements for guarantee releases, including proper consideration and clear release language. This form serves as evidence of the discharge and helps prevent future disputes about the guarantor's obligations.

What sections should be included in a Guarantor Release Form?

1. Date: Date of release execution and parties involved

2. Parties: Identification of creditor, guarantor being released, and original debtor

3. Reference to Original Guarantee: Details of the original guarantee including date, parties, and scope of the original guarantee

4. Release Statement: Clear and unambiguous statement of release and discharge from the guarantee obligations

5. Execution Block: Signature blocks for all parties with witnessing requirements

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

1. Partial Release Provisions: Used when only specific obligations under the guarantee are being released while others remain in force

2. Consideration Statement: Details of any consideration provided for the release, if applicable

3. Reservation of Rights: Provisions preserving rights against other parties when multiple guarantors exist

4. Conditions Precedent: Any conditions that must be satisfied before the release becomes effective

What schedules should be included in a Guarantor Release Form?

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

2. Schedule B - Payment Schedule: Details of any payment arrangements or conditions tied to the release

3. Schedule C - Released Obligations: Detailed list of specific obligations being released (for partial releases)

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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

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Consent To Share Information

A Singaporean legal document authorizing personal data sharing with third parties under specific conditions.

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What is a Guarantor Release Form?

What sections should be included in a Guarantor Release Form?

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

What schedules should be included in a Guarantor Release Form?

Authors

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