Director's Personal Guarantee Template

Director's Personal Guarantee — Template

DIRECTOR'S PERSONAL GUARANTEE AND INDEMNITY

PARTIES

Guarantor:
Full Name: [Guarantor's Full Legal Name]
Date of Birth: [DD/MM/YYYY]
Residential Address: [Street Address, Suburb, State, Postcode]
("Guarantor")

Creditor:
[Your Business Name], ABN [Your ABN], of [Your Address]
("Creditor")

Principal Debtor:
[Customer Company Name] ACN [ACN], of [Registered Address]
("Company")

RECITALS

A. The Guarantor is a director of the Company.
B. The Creditor has agreed to extend credit facilities to the Company on the condition that the Guarantor provides this guarantee and indemnity in favour of the Creditor.
C. The Guarantor has agreed to provide this guarantee and indemnity in consideration of, and to induce, the Creditor extending credit to the Company.

AGREED TERMS

1. Guarantee
The Guarantor unconditionally and irrevocably guarantees to the Creditor the due and punctual payment by the Company of all amounts owed by the Company to the Creditor, whether now owing or arising in the future, under any credit agreement, invoice, or other arrangement between the Company and the Creditor ("the Guaranteed Obligations").

2. Principal Obligation
The Guarantor is liable to the Creditor as principal debtor and not merely as surety. The Creditor may enforce this guarantee against the Guarantor without first making demand on the Company, commencing proceedings against the Company, exhausting other remedies, or obtaining judgment against the Company.

3. Indemnity
As a separate and independent obligation, the Guarantor indemnifies the Creditor against all losses, damages, costs (including legal costs on a solicitor-client basis), and expenses suffered or incurred by the Creditor as a result of or in connection with any failure by the Company to pay the Guaranteed Obligations.

4. Continuing Guarantee
This guarantee is a continuing obligation and applies to all past, present, and future amounts owed by the Company to the Creditor. It is not discharged by any payment that does not fully discharge all Guaranteed Obligations.

5. No Limitation
This guarantee is not limited to any particular transaction, credit limit, or period of supply unless otherwise stated in writing signed by the Creditor.

6. Preservation of Rights
The Creditor's rights under this guarantee are not affected by: any variation of the credit terms between the Creditor and the Company; any time or indulgence granted to the Company; any release, discharge, or compromise with the Company; or any unenforceability of the Company's obligations for any reason.

7. Guarantor's Acknowledgements
The Guarantor acknowledges that:
(a) The Guarantor has read and understood this guarantee;
(b) ▢ The Guarantor has obtained independent legal advice before signing; OR
    ▢ The Guarantor has had the opportunity to obtain independent legal advice and has declined to do so;
(c) The Guarantor is signing this document voluntarily and without duress.

8. Governing Law
This guarantee is governed by the laws of [State/Territory, e.g., Queensland / New South Wales / Victoria]. The parties submit to the non-exclusive jurisdiction of the courts of that state or territory.

EXECUTION BY GUARANTOR
(This document must be executed by the Guarantor personally, not on behalf of the Company)

Signed by the Guarantor in the presence of a witness:

Guarantor's Signature: ___________________________ Date: ___________
Full Name: ______________________________________

Witness Signature: _______________________________ Date: ___________
Witness Full Name: _______________________________
Witness Address: ________________________________
(Witness must be an adult who is not a party to this document)