Loans and Guarantees
Loans and Guarantees are important documents for business. Our loans and guarantees are easy to read (unlike most bank loans and guarantees) and contain all the essential terms for payment of capital and interest, repayment and what happens if the borrower defaults.
ContractStore has two loan agreements. Document A109 is a loan agreement template to a limited company and the loan is for its business, repayable with interest over a fixed term.
Document A116 loan agreement template to an individual is similar but shorter and is a personal loan agreement for use where the borrower is an individual friend, family or business person.
A Guarantee may be required in business and in this section we have two guarantee templates. Payment Guarantee document A191 is for use where a company's payment obligations under a contract are guaranteed by a third party, who could be a shareholder or director of the payer.
A241, indemnity deed, is mainly for use in property transactions e.g. where a person signs a tenancy agreement and a third party guarantees payment of the rent, in our deed of indemnity the tenant undertakes to protect - or indemnify - the guarantor against any liabilities the guarantor incurs. So if the tenant does not pay the rent and the guarantor has to, the guarantor can recover the cost from the tenant under the indemnity deed.
We also have forms of guarantee (advance payment and parent company) plus forms of bond in our construction section.