Letter of Specific Guaranty

Letter of Specific Guaranty : Please fill out the following form. Please print your completed form if you would like to have a copy for your records.

FOR GOOD AND VALUABLE CONSIDERATION and as an inducement for (Creditor's name) of (Creditor's address) to extend credit to (Borrower's name) of (Borrower's address) the undersigned jointly, severally and unconditionally guarantee to Creditor the prompt and full payment of the following obligation:

Description of obligation

And the undersigned agree to remain bound on this guaranty notwithstanding any extension, renewal, indulgence, forbearance or waiver, or release, discharge or substitution ofany collateral or security for the obligation. In the event of default, the Creditor may seek payment directly from the undersigned without need to proceed first against Borrower, and the undersigned waive all suretyship defenses.

The obligations of the undersigned under this guarantee shall be only to the specific debt described and to no other debt or obligation between Borrower and Creditor.

In the event of default, the guarantor shall be responsible for all attorneys’ fees and reasonable costs of collection.

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

Signed this day of (date with year) :

In the Presence of :

Witness :

Witness :

Creditor :

Borrower :

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    Letter of Specific Guaranty
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