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Lease Guarantor Form

Lease Guarantor Form Template for Malaysia

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Key Requirements PROMPT example:

Lease Guarantor Form

"I need a Lease Guarantor Form for a commercial property in Kuala Lumpur, where a parent company will guarantee a 3-year lease starting March 2025 for its subsidiary company, with the guarantee covering both rent and maintenance charges."

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Document background
The Lease Guarantor Form is essential in Malaysian property leasing transactions where landlords require additional security beyond the tenant's own covenant. This document is commonly used when leasing to students, new businesses, or tenants with limited credit history. The form, governed by Malaysian law, particularly the Contracts Act 1950 and related legislation, establishes the guarantor's obligations to fulfill the tenant's responsibilities if they default. It typically includes comprehensive details about the guaranteed obligations, enforcement mechanisms, and the rights and responsibilities of all parties involved. The document must be properly stamped under the Stamp Act 1949 to be legally enforceable in Malaysian courts.
Suggested Sections

1. Parties: Identifies all parties to the guarantee: the Landlord (beneficiary of the guarantee), the Tenant (principal debtor), and the Guarantor

2. Background: Outlines the context of the guarantee, referring to the main lease agreement and explaining why the guarantee is required

3. Definitions: Defines key terms used throughout the document, including 'Guaranteed Obligations', 'Lease', 'Rent', and other relevant terms

4. Guarantee and Indemnity: Core section detailing the guarantor's promise to guarantee the tenant's obligations and indemnify the landlord

5. Scope of Guarantee: Specifies exactly what obligations are being guaranteed, including rent, damages, and other tenant obligations

6. Duration of Guarantee: Specifies how long the guarantee will remain in force and any conditions for termination

7. Guarantor's Obligations: Details specific obligations and responsibilities of the guarantor

8. Landlord's Rights: Outlines the landlord's rights against the guarantor and conditions for enforcing the guarantee

9. Execution: Formal signing section with space for all parties' signatures and witness details

Optional Sections

1. Joint and Several Liability: Required when there are multiple guarantors, establishing that each guarantor is liable for the full amount

2. Financial Disclosure: Optional section where guarantor confirms their financial capacity to meet the guarantee obligations

3. Guarantor's Right of Subrogation: Details the guarantor's rights to recover payments from the tenant, if desired to be included

4. Assignment and Transfer: Required if the guarantee needs to be assignable to future landlords or property owners

5. Limitation of Liability: Optional section setting caps or limits on the guarantor's liability, if agreed

6. Notice Requirements: Optional detailed procedures for how notices should be given to the guarantor

Suggested Schedules

1. Schedule 1 - Principal Lease Details: Copy or summary of the main lease terms being guaranteed

2. Schedule 2 - Guaranteed Obligations: Detailed list of specific obligations being guaranteed

3. Schedule 3 - Guarantor's Details: Comprehensive contact and identification details of the guarantor

4. Appendix A - Form of Demand: Standard form for making demands under the guarantee

5. Appendix B - Financial Statement: Optional financial disclosure form for guarantor to complete

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Hospitality

Office Space

Industrial

Education

Healthcare

Relevant Teams

Legal

Real Estate

Property Management

Operations

Compliance

Risk Management

Commercial

Administration

Facilities

Relevant Roles

Property Manager

Leasing Manager

Real Estate Agent

Legal Counsel

Contract Administrator

Facilities Manager

Asset Manager

Property Administrator

Compliance Officer

Risk Manager

Commercial Director

Operations Manager

Industries
Contracts Act 1950: Primary legislation governing contract formation, validity, and enforcement in Malaysia, including specific provisions for guarantee agreements under Sections 79-86
National Land Code 1965: Governs real property matters and tenancy relationships, particularly relevant for the underlying lease agreement that the guarantee is supporting
Stamp Act 1949: Requires guarantee agreements to be properly stamped to be admissible in court and enforceable. The act specifies the duty rates for different types of instruments
Civil Law Act 1956: Contains provisions relating to guarantees and the application of English common law principles in commercial matters
Specific Relief Act 1950: Provides remedies in case of breach of contract, including specific performance and injunctive relief that might be relevant to guarantee enforcement
Distress Act 1951: Governs the recovery of rent arrears, which is relevant as the guarantor may be liable for unpaid rent under the guarantee
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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