Affidavit Of Guarantee Template for Malaysia

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Key Requirements PROMPT example:

Affidavit Of Guarantee

"I need an Affidavit of Guarantee for a personal guarantee I'm providing for my brother's small business loan of RM 500,000 from Malaysian Banking Corporation, to be executed by March 2025."

Document background

The Affidavit of Guarantee is a crucial document in Malaysian business and financial transactions, particularly when securing loans, credit facilities, or other financial obligations. This document is required when an individual or entity (the guarantor) agrees to guarantee the obligations of another party (the principal debtor) to a third party (usually a financial institution). The affidavit must be properly executed before a Commissioner for Oaths and should comply with Malaysian legal requirements, including the Contracts Act 1950, Stamp Act 1949, and relevant banking regulations. It typically includes detailed information about all parties involved, the scope of the guarantee, financial obligations, and explicit declarations about the guarantor's capacity and willingness to fulfill the guarantee obligations. For Islamic banking transactions, the Affidavit of Guarantee must also comply with Shariah principles and the Islamic Financial Services Act 2013.

Suggested Sections

1. Title and Declaration: Formal title of the document and opening declaration stating this is an affidavit

2. Deponent Details: Full name, NRIC/passport number, occupation and address of the guarantor making the affidavit

3. Background: Context of the guarantee including details of the principal debtor and the relationship between guarantor and debtor

4. Principal Debt Details: Specific information about the debt or obligation being guaranteed

5. Guarantee Declaration: Express declaration of the guarantee commitment and its scope

6. Financial Capacity: Declaration of guarantor's financial capacity to meet the guarantee obligations

7. Understanding of Obligations: Confirmation that the guarantor understands their obligations and liability

8. Truth Declaration: Standard closing declaration affirming the truth of the statements

9. Execution Block: Space for signature, commissioner for oaths details and attestation

Optional Sections

1. Joint and Several Liability: Required when there are multiple guarantors, specifying their joint and several liability

2. Islamic Banking Compliance: Required when the guarantee relates to Islamic banking facilities, including relevant Shariah principles

3. Limitation of Liability: Optional section specifying any agreed limits to the guarantor's liability

4. Security Details: Required when specific assets are pledged as additional security for the guarantee

5. Corporate Authority: Required when the guarantor is a company, including board resolution details

Suggested Schedules

1. Schedule A - Principal Debt Details: Detailed breakdown of the debt or obligations being guaranteed, including amounts, interest rates, and payment terms

2. Schedule B - Security Details: List and description of any assets or securities pledged in support of the guarantee

3. Schedule C - Principal Documents: List of all relevant agreements and documents relating to the principal debt

4. Appendix 1 - Identity Documents: Copies of guarantor's identification documents and relevant certificates

5. Appendix 2 - Financial Statements: Where applicable, financial statements or proof of financial capacity of the guarantor

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Financial Services

Real Estate

Commercial Lending

Islamic Banking

Construction

Manufacturing

Retail

Education

Healthcare

Small and Medium Enterprises

Relevant Teams

Legal

Credit Risk

Compliance

Corporate Secretarial

Finance

Banking Operations

Islamic Banking

Document Processing

Risk Management

Customer Relations

Relevant Roles

Legal Counsel

Bank Manager

Credit Officer

Risk Manager

Compliance Officer

Corporate Secretary

Financial Controller

Chief Financial Officer

Credit Risk Analyst

Legal Documentation Officer

Relationship Manager

Islamic Banking Officer

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Let's create your Affidavit Of Guarantee

Authors

Alex Denne

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