Alberta Guarantee and Postponement of Claim
Obtain a personal guarantee from the principals of a corporate borrower with this Guarantee and Postponement of Claim for the Province of Alberta.
- The Guarantee would be given by a director, shareholder, or sole proprietor of the corporation as security to guarantee repayment of the borrower's indebtedness to a lender if the borrower defaults in paying back the debt.
- The guarantor also agrees that any debts owed by the borrower to the guarantor will be postponed to the debts owed to the lender, and the lender's claims would take priority.
- A Guarantee and Postponement of Claim secures repayment of your debt. If you lend money or extend credit to customers in Alberta, you should have this form.
- The form includes the required Guarantees Acknowledgement Act acknowledgement, as well as an affidavit of execution.
- This legal document is intended solely for use in the Province of Alberta, Canada.