Adam Frankel
General Counsel · Technology & AI
15+ years as General Counsel to technology, cloud & AI companies
This is a preview. The full template is free on GitLaw.
About this template
What is this template?
This document is a personal guarantee for bank liabilities expressed in Indian Rupees. It is not a corporate guarantee or a performance bond for construction, but specifically covers 'moneys and liabilities already advanced' and future bank charges. It contains a specific two-day payment window following a formal demand.
When should you use it?
Use this document when a bank requires a third party to personally back the debts of a borrower using a 'continuing' liability structure. If the guarantor is a company rather than an individual, use a Corporate Guarantee instead.
What's inside
| Clause | Name | What it does |
|---|---|---|
| Introduction | Payment Obligation | The Surety agrees to pay all moneys and liabilities of the Customer within two days after a demand is made by the Bank Manager. |
| Proviso | Liability Limit | Total liability is capped at a specific sum in Rs. plus interest at a defined percentage per annum from the date of demand. |
| 1 | Discontinuance and Determination | This continuing guarantee remains in force until three calendar months after the Surety provides written notice of intention to discontinue. |
| 2 | Indulgence and Variation | The Bank may grant the Customer time or vary credit terms without the Surety's assent or discharging the Surety's liability. |
| 3 | Insolvency of Customer | The Bank retains the right to prove for its full claim in the Customer's bankruptcy to the exclusion of the Surety's rights. |
| 5 | Scope of Accounts | The guarantee extends to all accounts of the Customer whether held solely or jointly with any other person or company. |
Who it's for
- an individual acting as a surety for a bank customer's credit facilities in India
- a bank manager requiring a personal guarantee for a new or existing rupee account
- a legal representative of a surety determining liability following the surety's death
How long it runs and how it's signed
How long
Runs until someone ends it
Stated duration
Continuing until determination
Notice to end it
three calendar months
Signed by
Surety
Witness
Required
Notarisation
Not required
Also needed
Signature of witness required
Jurisdiction
India
Document info
GitLaw document. Document created on Fri Jun 26th, 2026. Last updated on Wed Jul 15th, 2026.
This document is public
Licensed under CC BY 4.0 (Attribution).
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