If you need a Promissory Note with Guaranty, this is a great one to use! When your client reviews and signs off on this letter, they are
making a formal pledge to remain liable for their debt until it is paid off.
This form makes the agreement between parties official, and best yet, on record, in writing.
You won't be able to find much better with concrete proof of the guarantee.
Because honestly, although this form is so they cannot just skip out on the loan when cash get’s tight, they can!
But with their signature on this letter, they won’t be able to get away with it.
FOR VALUE RECEIVED, the undersigned jointly and severally promise to the order of _, the sum of _ [$_] Dollars, with interest thereon at the rate of _% per annum on the unpaid balance. Said sum shall be payable in the manner following:
The undersigned shall have the right to prepay without penalty. In the event any payment due hereunder is not made when due, the entire balance shall be immediately due at the option of any holder. In the event of default, the undersigned agree to pay all reasonable attorney fees and cost of collection. Each maker, surety, guarantor or endorser of this note waives presentation of payment, notice of non-payment, protest and notice of protest and agrees to all extensions, renewals, or release, discharge or exchange of any other party or collateral without notice.
FOR VALUE RECEIVED, the undersigned do hereby guaranty payment of the above note and agree to remain fully bound until fully paid.