FREE 8+ Sample Guarantor Agreement Forms in PDF | MS Word

A Guarantor Agreement Form is a written document that defines the terms and conditions in the event a tenant or buyer is not able to fulfill the payment on time. The guarantor will take full responsibility of the remaining balance on behalf of the tenant. The obligations of a guarantor include paying the rent on time and avoiding doing damage to the property. However, in the event that the guarantor feels an unfair decision is visibly made, he has the right to suggest revisions to the agreement until their ends meet with the other party.

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Importance of a Guarantor Agreement Form

Some landlords and loan owners let guarantors sign beside the tenant’s signature at the very last page of a contract without stating the role of the guarantor. The contract only emphasizes the tenant’s responsibilities, thereby making the guarantor into a witness who can attest that the tenant had signed the documents. In this case, when an unexpected scenario happens – say, a tenant disappears suddenly – the contract won’t be a burden for the guarantor.

In the contract, there should be a statement where the guarantor will provide a guarantee when:

• The tenant has not fulfilled the payments
• The tenant has failed in fulfilling other obligations under the contract
• The tenant has inflicted damage on the item.

With the help of the agreement form, the guarantor will know his obligations and what he is expected to sacrifice as he signs on the document. All other lease documents should be attached to the form as proof and as basis for the agreement.

We also have Personal Agreement Forms, which are downloadable in both .doc and .pdf formats.

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What’s in a Guarantor Agreement Form

• Basic Information. In any agreement, this area is where the parties are to be introduced with their individual identities. This will include the full names of both parties.
• Residency Information. This is a very important portion in the form since the address provided in this area will be the location where the landlord shall visit and collect payments from the guarantor. This serves as proof that an individual is living in a certain part of the city as needed to fulfill the residency requirement.
• The Property or Amount Rented. This area focuses on the details of the property rented by the tenant. Specifying and attaching other documents would be helpful for the knowledge of the guarantor.
• Legal History. Criminal records and other legal cases involving the guarantor should be indicated as well, for the surety of both parties.
• Employment History. It is preferable if the guarantor has a recent job that will show his capability in paying the debts before the due date arrives.
• Declaration for Credit Search and Signature. This is the last part of the contract wherein the guarantor will allow the landlord to give him obligations in terms of monetary value. The signature will then be placed above the guarantor’s full legal name.

You may also want to view our Free Rental Agreement Form samples for ideas and templates for your renting needs.