A specific liabilities guarantee and indemnity given by an individual (the guarantor) in favour of a single lender (the beneficiary) in respect of payment of all payment obligations and liabilities which become due, owing or incurred by a corporate borrower to a lender under a facility agreement. The guarantor may or may not be a director of the borrower.
NOTE: TO AVOID POTENTIAL "UNDUE INFLUENCE" ISSUES, THE LENDER SHOULD ENSURE THAT THE GUARANTOR TAKES LEGAL ADVICE ON THE GUARANTEE SEPARATELY FROM THE BORROWER.