Personal Guarantor Form Template for United Arab Emirates

The Personal Guarantor Form is a critical legal instrument used in the United Arab Emirates when an individual agrees to guarantee the financial obligations of another party. This document is commonly required in various business and personal contexts, such as bank loans, commercial leases, or business financing arrangements. It must comply with the UAE Civil Code (Federal Law No. 5 of 1985) and relevant UAE Central Bank regulations, particularly Notice No. 164/2018 regarding personal guarantees in banking transactions. The form includes essential elements such as the parties' details, scope of guaranteed obligations, enforcement mechanisms, and necessary declarations required under UAE law. It is particularly important in the UAE business environment where personal guarantees are frequently required as additional security for financial and commercial transactions.

1. Parties: Identification of the Guarantor, Creditor, and Principal Debtor with full legal names and addresses

2. Background: Context of the guarantee, including reference to the primary obligation or debt being guaranteed

3. Definitions: Key terms used in the guarantee agreement, including 'Guaranteed Obligations', 'Security', and 'Event of Default'

4. Guarantee and Indemnity: Core section detailing the scope of the guarantee, the guarantor's obligations, and indemnification provisions

5. Nature of Guarantee: Specification that this is a continuing guarantee and security, including whether it is primary or secondary obligation

6. Representations and Warranties: Guarantor's confirmations regarding their capacity, authority, and financial condition

7. Payment Obligations: Terms of payment, including timing, method, and currency of payments

8. Enforcement: Circumstances under which the guarantee can be enforced and the process for enforcement

9. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction of UAE courts