Ontario Guarantee and Postponement of Claim

This Ontario Guarantee and Postponement of Claim is a means of securing repayment of the indebtedness of a corporate borrower.

• The guarantor is a director, shareholder, sole proprietor or other person with a material interest in the business of the borrower.
• The guarantor guarantees that he/she will repay the indebtedness to the lender if the borrower defaults in payment.
• The guarantor agrees that any debts owed by the borrower to the guarantor will be postponed to the debts owed to the lender, and the lender's claims would take priority.

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