Get Free On 11.04.09, In Leasing Terms, by Celso
A personal guarantee, also known as P.G., is the guarantee of an individual to be personally responsible for the obligations under the lease. Personal guarantees are required on almost all leases unless special permission is made by the lessor to not have one. For example, special permission may be given to a corporation that has been in business for over 10 to 15 years with solid financials.
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