By Kay Keam - 18 Jun 2010
- 1 comment
Stop – think – limit that guarantee.
It is common to give a guarantee of your obligations under a lease. But before giving a guarantee, consider the alternatives.
- For example, will the landlord accept a bank
guarantee?
- If you have to give a guarantee, look to limit the guarantee to
a monetary amount (say two years rent).
- Try to negotiate automatic release on assignment as well
(otherwise you could still be liable if you sell your
business).