Parent company guarantee from employer
Produced in partnership with Peter Jansen of Keystone Law

The following Construction precedent produced in partnership with Peter Jansen of Keystone Law provides comprehensive and up to date legal information covering:

  • Parent company guarantee from employer

Parent company guarantee from employer

This Guarantee is made the [insert date] day of [insert month] 20[insert year]

Parties

  1. 1

    [insert name] (Company No. [insert number]) [of OR whose registered office is at] [insert address] (the ‘Guarantor’).

  1. 2

    [insert name] (Company No. [insert number]) [of OR whose registered office is at] [insert address] (together with its successors and assigns, the ‘Contractor’).

Background

    1. (A)

      By a contract dated [insert date] (the ‘Contract’) and made between (1) [insert name] (the ‘Employer’) and (2) the Contractor, the Contractor has agreed to execute and complete certain works (‘the Works’) upon the terms and conditions contained in the Contract.

    1. (B)

      The Employer has agreed to procure the provision of a guarantee in the terms hereof (the ‘Guarantee’). The Employer is a wholly owned subsidiary of the Guarantor.

    1. (C)

      The Guarantor has agreed to guarantee the Employer’s performance of its obligations under the Contract.

It is hereby agreed as follows:

    1. 1

      The

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