Unlimited guarantee
A guarantee with no stated monetary cap, potentially exposing the guarantor to the full guaranteed debt plus any covered interest, costs or other sums.
Related terms
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Personal guarantee claim
A creditor’s demand or legal claim against a guarantor for sums said to be due under a personal guarantee.
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Lease guarantee
A guarantee supporting a tenant’s obligations under a lease, potentially making the guarantor liable if the tenant defaults.
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Enforcement of a personal guarantee
Steps taken by a lender or creditor to recover money from a guarantor after the guaranteed obligation has become payable.
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