Written Consent (Lending): Parent Guarantor

The legal template titled "Written Consent (Lending): Parent Guarantor" pertains to a written agreement between a financial institution or lender and a parent who is acting as a guarantor for a loan or credit facility.

This legal document outlines the terms and conditions under which the parent is willing to offer their personal guarantee to secure the loan on behalf of their child or dependent. As a guarantor, the parent agrees to be legally obligated for the repayment of the loan if the primary borrower fails to meet their financial obligations.

The template typically covers various aspects such as the loan amount, interest rate, repayment terms, and any specific conditions or covenants. It also clarifies the parent's responsibilities and potential consequences in case of default by the primary borrower.

The purpose of this template is to formalize the agreement and establish a legally binding relationship between the lender and the parent guarantor, ensuring that all parties understand their rights and obligations. The document helps protect the interests of both the lender and the guarantor while facilitating the loan process and reducing potential risks.