Prepare the guarantee and indemnity pack for a corporate obligation
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Draft the guarantee and indemnity from the firm's precedent and the lawyer's instruction sheet, and build the schedule of guaranteed obligations from the principal document with each obligation marked to its clause and any cap identified.
- What the lawyer must review
- The lawyer checks the identity and capacity of each guarantor, including a corporate guarantor's power and its directors' position, decides the scope of the indemnity and the variation, release and continuing-guarantee provisions, confirms any writing or independent-advice formality that applies in the governing jurisdiction, and checks the schedule against the principal document.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Draft the guarantee and indemnity from the firm's precedent and the lawyer's instruction sheet, and build the schedule of guaranteed obligations from the principal document with each obligation marked to its clause and any cap identified. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm the instructions, the jurisdiction and the complete relevant material before starting.
- The lawyer checks the identity and capacity of each guarantor, including a corporate guarantor's power and its directors' position, decides the scope of the indemnity and the variation, release and continuing-guarantee provisions, confirms any writing or independent-advice formality that applies in the governing jurisdiction, and checks the schedule against the principal document.
- Check the output against the source documents named in it before it is relied on.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| Corporate guarantee and indemnity: board approval, corporate benefit record and execution checklist | Checklist | AI use Yellow | Pack for a company giving a guarantee and indemnity for another group company or a third party: corporate benefit analysis, solvency check, interests, board resolution, deed execution under s 127 and the records a lender or counterparty will ask for. |
Signed-in accounts can read the full text of each one. All precedents.
Sources
- https://www.australiancontractlaw.info/law/formalities · 2026-09-27
- https://www.legislation.qld.gov.au/view/whole/html/asmade/act-2023-027 · 2026-09-27
- https://anzlaw.thomsonreuters.com/Glossary/AUPracticalLaw/Iecf618a4be5811e79bef99c0ee06c731 · 2026-09-27
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.