Guarantee of contract performance
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this document
This is a professionally drawn, short agreement which identifies an original contract, then ties a new guarantor to it, to stand in the shoes of one of the parties.
This contract guarantee covers any situation where there has been some disagreement about a contractor's ability to complete his performance obligations. A new deal is agreed, whereby the contractor finds some other company to provide support and guarantees the performance of the contract.
Although named a guarantee document, we have also provided a structure for you to add changes to the terms of the original agreement. These could be changes to price, payment terms, completion date, penalties, quality of work, testing, or anything else.
Nineteen year old builder agrees to build a garage. Problems arise in quality of work. Client holds back money. Client accepts his father (also a builder) as guarantor and garage is completed.
Internet marketer takes on work for small company. Company fails to complete website so marketer cannot complete the task. Directors of company personally guarantee that the website will be completed, so marketer agrees not to sue the company for breach of contract.
Civil engineering company engaged in public works contract falls behind in milestones to complete new motorway. Department of Transport threaten penalty clause. But just in time, parent company agrees to guarantee the performance of the contract, including the penalty provisions.
The law in this document
There is no modern statutory law relating to guarantees. This document is based on contract common law.
In these examples, the guarantee is for performance of a contract. If you are looking for a guarantee agreement for a contract debt only, look at Guarantee of contract debt OR Deed of guarantee of loan.
Net Lawman offers other document templates related to new guarantees at Guarantees and Indemnities.
This document was written by a solicitor for Net Lawman. It complies with current New Zealand law.
"I have found Net Lawman perfect for my needs and saved me thousand of dollars in legal fees getting a lawyer to produce these douc's from scratch. I have used three of the Net Lawman doc's to basically write up the NDA, contract, Non Solicitation agreements to a level of being 95% complete and then used my lawyer to sign off. My lawyer even commented how complete these doc's are.
Thanks guys, great service/product.
Cheers Dean"Dean Harper
"I have found the product exactly what I wanted and the notes helpful - as well as it being easy to locate, buy and download. There should be a better way of making your product more widely known. I have recently had experience of a tailor-made lease and this left a lot to be desired - whereas your product is well researched and ticks all the boxes."Ted
"I used Netlawman to pre-work some contracts for my lawyer. He came back stating that the forms were 'excellent' and saved me several billable hours."Chris T.