Standard Occupation Contract Guarantee & Indemnity Agreement

This Standard Occupation Contract Guarantee and Indemnity Agreement is a simple document in which a Guarantor promises to pay the rent if the contract-holder fails to do so and to compensate the Landlord for any loss caused by the contract-holder’s breach of the terms of the occupation contract.

It also includes an indemnity which is a separate obligation to the guarantee, which provides greater protection for the Landlord. An indemnity obliges the Guarantor to compensate the Landlord for loss or damage and is not dependent on the contract-holder’s obligations being enforceable. 

Landlords are likely to ask for a Guarantor if the Contract-holder does not have a satisfactory credit history or references.

The proposed form of model written statement should be annexed to the Guarantee so that all parties know what the extent of the Guarantor’s liability is.

Under the Renting Homes (Fees etc.) (Wales) Act 2019 landlords and/or letting agents in Wales are prohibited from charging any fees associated with obtaining a guarantee or indemnity. This includes referencing fees and administration fees.

This Standard Occupation Contract Guarantee and Indemnity Agreement is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.

This Agreement is for use for property located in Wales only. 

Once you have purchased access to the appropriate document folder click on the “Download Document” button below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing.

Standard Occupation Contract Guarantee & Indemnity Agreement is part of Property Documents. Just £35.00 + VAT provides unlimited downloads from Property Documents for 1 year.