A personal guaranty is an added measure of a successful relationship with your customer, at least during the early "courting" days. When you enter into a business arrangement with a new client, you assume it will not fail anytime soon. You are banking on that relationship developing and lasting for years.

But what if it doesn't? Are you prepared to write off a bad debt? Perhaps a personal guaranty can provide you with a greater assurance that the account can be collected.

As long as you have current information regarding the individual's assets, it can:

• Decrease the risk of granting credit to suspect accounts.

• Significantly increase your chance of recovery if a customer defaults.

Our sample personal guaranty is a simple document that holds your customer accountable and helps to eliminate legal challenges.

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