Guaranty – Specific Debt Form

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Guaranty – Specific Debt Form
Guaranty – Specific Debt Form

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FOR GOOD AND VALUABLE CONSIDERATION, and as an inducement for ________________________________ (Company) to extend credit to ________________________________ (Borrower) ; the undersigned jointly and severally and unconditionally guaranties to Company the prompt and full payment of the following debt owed to Company from Borrower:
_______________________________________________________________ .

The undersigned agrees to remain bound on this guaranty notwithstanding any extension, forbearance or waiver, or release, discharge or substitution of any collateral or security for the debt. In the event of default, the Company may seek payment directly from the undersigned without need to proceed first against Borrower.

This guaranty shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.

Signed under seal this _________day of _________________, 20___.