Seller's Deed of Guarantee (Under Asset Purchase Agreement)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
💴 Deed of guaranteeBusiness activity
Guarantee and indemnifyA deed of guarantee is a legal contract between three parties: the guarantor, the debtor, and the creditor. The guarantor agrees to pay the debt if the debtor defaults. The deed of guarantee must be in writing and signed by the guarantor.
Under the UK law, when entering into an asset purchase agreement, the buyer may require additional guarantees to protect their interests against potential risks. This template serves as a legal binding document that ensures the seller's obligations and responsibilities are met, providing the buyer with an added layer of protection.
The Seller's Deed of Guarantee clearly sets out the terms and conditions under which the guarantor will step in and assume the seller's obligations and liabilities, should the seller fail to fulfill their obligations under the asset purchase agreement. This includes scenarios such as financial defaults, breach of contract, or failure to transfer the assets as agreed.
By using this legal template, both the seller and the buyer can establish a mutual understanding and agreement regarding the guarantee obligations. This document provides a clear framework for resolving any disputes and clarifying the recourse available to the buyer in case of a breach of the asset purchase agreement.
It is important to note that the Seller's Deed of Guarantee is specifically designed for asset purchase agreements and is governed by UK law. It is recommended that both parties involved seek legal advice to customize the template to their specific transaction and ensure compliance with applicable regulations.
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