Circumstances may exist where a limited company director may be prepared to personally guarantee the obligations which the company is entering with you. Care should be taken to ensure the director has sufficient financial worth to honour the guarantee. What assets does a director have? Does the director own a house, and if so, are there any secured borrowings. If so, what is the equity and value? Briefly put, sensible enquiries should be made as to whether or not you consider the director is in a financial position to honour the company's guarantee.
On the assumption you do wish to take the guarantee and, indeed, a director is willing to grant this then it can be in the following form: Click here to view style.
Remember all guarantees require to be in writing. If the guarantee is to be construed under English law then the element of "consideration" has to be evident within the terms of the guarantee. The consideration evident in the guarantee will be your intention to supply goods and services to the customer
