With business credit card agreements, when you give your personal guarantee, you are essentially a co-signer on the business credit card account and remain liable for any debts the business incurs. You have given your "personal guarantee" that you will responsible for the debt.

Definition Promise made by an entrepreneur which obligates him/her to personally repay debts his/her corporation defaults on.

Security supplementary, to the obligation of a limited company, to repay sums advanced to it, whereby the party providing the guarantee, agrees to repay the factor, in the event the factor cannot recover its advances from invoices assigned.

A Personal Guarantee is an agreement signifying an individual, organization or a company accepts responsibility for a 3rd party debt in the event the debtor fails to pay.

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A personal guarantee is an agreement whereby an individual, usually a director, is responsible for the debt if the borrower fails to repay it. This means that personal assets such as the family home are in jeopardy if the creditors call in the loans on a business.

Guarantee that the primary owner(s) will assume personal responsibility for repayment of the loan, should the company not repay the loan.

A personal guarantee is an individual's agreement with a lender to repay the debts of a business. Loans made to start-up businesses require personal guarantees. As businesses become more establis [..]

A legal contract binding a individual with the responsibility for payment of a debt or performance of some obligation if the person and or a company fails to perform.

A personal guarantee is a tool which financial service providers can use to guarantee their debt by requesting the director or partner in a business to personally guarantee the debt regardless of whet [..]

A guarantee given by an individual such as a director or shareholder that money borrowed will be repaid personally in the event the company cannot pay. If the borrower does not make the repayments on [..]

Agreement