All Countries
Banking
Loan Guarantor Agreement Form

Loan Guarantor Agreement Form Template for Nigeria

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Loan Guarantor Agreement Form

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Loan Guarantor Agreement Form

"I need a Loan Guarantor Agreement Form for a corporate guarantor backing a 5-year commercial property loan of 50 million Naira, with the guarantee to commence from March 1, 2025, including specific provisions for quarterly financial reporting by the guarantor."

Celebrated by
Collaborations with
Investors
Document background
The Loan Guarantor Agreement Form is a crucial legal document used in Nigerian lending transactions where additional security is required for a loan facility. This document is typically employed when a lender requires extra assurance beyond the borrower's own creditworthiness, particularly in high-value loans or where the borrower's credit history or collateral is insufficient. The agreement must comply with Nigerian banking regulations, contract law, and financial services requirements, including the Banks and Other Financial Institutions Act (BOFIA) 2020 and relevant Central Bank of Nigeria directives. It's commonly used by financial institutions, businesses, and individuals, setting out the guarantor's obligations, limits of liability, and enforcement procedures. The document includes specific provisions for both individual and corporate guarantors, incorporating necessary safeguards and compliance requirements under Nigerian law.
Suggested Sections

1. Parties: Identifies and provides full details of the Lender, Borrower, and Guarantor(s)

2. Background: Explains the context of the loan agreement and the purpose of the guarantee

3. Definitions: Defines key terms used throughout the agreement

4. Guarantee and Indemnity: Details the scope and nature of the guarantee obligation

5. Extent of Guarantor's Liability: Specifies the maximum amount guaranteed and any limitations

6. Duration of Guarantee: Defines when the guarantee becomes effective and when it terminates

7. Guarantor's Representations and Warranties: Statements of fact and assurances made by the guarantor

8. Guarantor's Covenants: Ongoing obligations and commitments of the guarantor

9. Enforcement and Recovery: Procedures for enforcing the guarantee and recovering payments

10. Payments and Interest: Terms regarding payment obligations and applicable interest

11. Notices: Requirements for formal communications between parties

12. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and jurisdiction for disputes

13. Execution: Signature blocks and attestation requirements

Optional Sections

1. Multiple Guarantors: Additional provisions when there is more than one guarantor, including joint and several liability

2. Security Provisions: Where the guarantee is supported by specific security or collateral

3. Corporate Guarantor Provisions: Additional requirements when the guarantor is a company rather than an individual

4. Assignment and Transfer: Terms allowing the lender to assign or transfer the guarantee rights

5. Force Majeure: Provisions dealing with unforeseen circumstances affecting the guarantee

6. Language Declaration: Required when the guarantor is not fluent in English, confirming the agreement has been explained in their native language

Suggested Schedules

1. Details of Primary Loan Agreement: Summary of the main loan agreement being guaranteed

2. Guarantor's Assets Declaration: Statement of the guarantor's assets and financial position

3. Specific Secured Assets: Details of any assets specifically secured under the guarantee

4. Form of Demand: Template for making formal demands under the guarantee

5. Required Corporate Authorizations: For corporate guarantors, copies of board resolutions and other authorizations

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

Banking

Financial Services

Microfinance

Real Estate

Construction

Manufacturing

Retail

Agriculture

Education

Healthcare

Small and Medium Enterprises

Corporate Services

Professional Services

Relevant Teams

Legal

Credit Risk

Compliance

Corporate Banking

Retail Banking

Collections

Documentation

Client Relations

Risk Management

Corporate Finance

Relevant Roles

Credit Manager

Loan Officer

Risk Assessment Officer

Legal Counsel

Compliance Officer

Banking Relationship Manager

Credit Risk Analyst

Corporate Banking Officer

Financial Services Manager

Contract Administrator

Company Secretary

Chief Financial Officer

Collections Manager

Industries
Nigerian Contract Law: Governs the formation and enforcement of contracts, including essential elements like offer, acceptance, consideration, and capacity to contract
Banks and Other Financial Institutions Act (BOFIA) 2020: Regulates banking operations and financial institutions in Nigeria, including lending practices and requirements for guarantee agreements
Money Lenders Law: Regulates money lending transactions and provides protection for parties involved in loan agreements, including guarantors
Central Bank of Nigeria Act 2007: Provides regulatory framework for financial transactions and monetary policies that affect lending practices
Limitation Law: Specifies time limits within which legal actions can be brought regarding loan recovery and enforcement of guarantees
Evidence Act 2011: Governs the admissibility of evidence in legal proceedings, including documentation requirements for guarantee agreements
Illiterates Protection Law: Provides special protections for illiterate parties entering into contracts, including requirements for proper explanation and witnessing
Consumer Protection Framework 2016: Outlines consumer protection requirements in financial services, including disclosure obligations to guarantors
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

Find the exact document you need

Lease Of Real Estate With Guarantee & Indemnity

A Nigerian law-governed real estate lease agreement incorporating guarantee and indemnity provisions to secure tenant obligations.

find out more

Personal Guarantor Form

A Nigerian law-governed document where a guarantor assumes responsibility for another party's financial obligations, commonly used in lending and business transactions.

find out more

Personal Guarantor Agreement Form

A Nigerian law-governed agreement where a guarantor commits to fulfill another party's financial obligations in case of default.

find out more

Loan Guarantor Agreement Form

A Nigerian law-governed agreement where a guarantor assumes responsibility for a borrower's loan obligations in case of default.

find out more

Guaranty Of Lease Agreement

A Nigerian law-governed agreement where a guarantor assumes responsibility for a tenant's lease obligations in case of default.

find out more

Rental Guarantee Form

A Nigerian legal document where a guarantor commits to covering a tenant's rental obligations, compliant with Nigerian federal and state property laws.

find out more

Performance Guarantee Agreement

A Nigerian law-governed agreement where a guarantor assures the performance obligations of a principal debtor to a beneficiary, subject to Nigerian banking and financial regulations.

find out more

Payment Guarantee Agreement

A Nigerian law-governed agreement where a guarantor undertakes to fulfill specified payment obligations of a debtor to a beneficiary if the debtor defaults.

find out more

Joint Guarantee Agreement

A Nigerian law agreement where multiple guarantors jointly and severally guarantee a principal debtor's obligations to a beneficiary.

find out more

Guarantee Rental Agreement

A Nigerian law-governed agreement where a guarantor provides security for a tenant's obligations under a rental agreement, including rent payments and other specified duties.

find out more

Guarantee And Collateral Agreement

A Nigerian law-governed agreement combining guarantee obligations with security arrangements over collateral to secure a principal debtor's obligations.

find out more

Corporate Guarantee Agreement

A Nigerian law-governed agreement where a corporate entity guarantees the obligations of another party to a creditor.

find out more

Personal Guaranty Agreement

A Nigerian law-governed agreement where a guarantor assumes responsibility for another party's financial obligations to a creditor.

find out more

Guarantor Indemnity Agreement

A Nigerian law-governed agreement where a guarantor commits to fulfilling another party's obligations and provides indemnity protection to the beneficiary.

find out more

Guarantor Tenancy Agreement

A Nigerian law-governed agreement establishing a tenancy with guarantor security, defining the rights and obligations of landlord, tenant, and guarantor.

find out more

Personal Guarantee Promissory Note

A Nigerian law-governed document combining a promissory note with a personal guarantee, establishing primary debt obligation and secondary guarantee for payment assurance.

find out more

Personal Guarantee Letter

A Nigerian law-governed document where an individual guarantees to fulfill another party's financial obligations if they default.

find out more

Loan Guarantor Agreement

A Nigerian law-governed agreement where a guarantor commits to fulfilling a borrower's loan obligations to a lender in case of default.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.