If you’re a business owner, it’s likely that at one time or another you’ve been asked to provide a personal guarantee to a contract. But just because it’s asked, doesn’t mean it’s required. Here’s everything you need to know before signing a personal guarantee.
- Why are we talking about this
- Do and Don’ts when it comes to personal guarantees
- What businesses should be mindful for before they sign a personal guarantee
- What are some of the other elements that we should be considering
- Running through our areas once again in dealing with personal guarantees
Do you have personal guarantees in your business contracts? Most business owners aren’t quite sure how to answer this question and that’s certainly alarming, to say the least. And that’s exactly why our resident expert Fiona Yiend, who heads up our M&A services at Aspect Legal, is joining us today to talk about this topic.
In this episode, we discuss some important questions you need to consider before giving away your personal guarantee. We also give you tips on how you can push back and negotiate your way out of a personal guarantee when you’re asked for it.
At Aspect Legal, we make it our duty to help you grow your business while ensuring you are free from any unnecessary risks and liabilities that may arise in the future. Personal guarantees, when entered into haphazardly, can spell serious trouble for you and your business. So consider yourself warned, and armed by tuning in to this insightful episode on personal guarantees.
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Aspect Legal has a number of great services that help businesses prepare for a sale or acquisition to help them prepare in advance and to get transaction ready. And we’ve also got a range of services to help guide businesses through the sale and acquisitions process.
We work with clients both big and small and have different types of services depending on size and complexity. We provide a free consultation to discuss your proposed sale or acquisition – so see our show notes on how to book a time to speak with us, or head over to our website at Aspectlegal.com.au
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