This document is a guarantee to be used where there is a party guaranteeing the obligations of another party, under a business sale agreement.
There may be a requirement to obtain a bank guarantee, and it is usual that the banks will provide their own form of guarantee. The only aspects that are usually negotiable for a bank guarantee are the expiry date and the value of the guarantee.
This guarantee is to be used for a third party other than a bank.
This document has been authored for Lexis Nexis by Rosalyn Gladwin, Principal, Gladwin Legal.
This document is prepared with the assistance of Specialist Editor Murray Landis, Partner, K&L Gates.