Commercial Lease Agreement

Fill in the appropriate information at your own pace. You're not required to fill out everything at once. A blank space is generally provided in the form that can be filled in later if you are missing information about one of the parties. You may also come back to the question page to fill out the missing information at your leisure.

A guarantor agrees to pay the landlord directly for any losses, when the tenant fail to pay rent or otherwise breach the lease agreement.

The liability of the guarantor is no more nor less than the liability of the person being guaranteed and only becomes effective once that person has failed in his obligations. So there is a need to look first to that person. There can be certain formalities such as being in writing for a guarantee to be enforceable.
An indemnity provides that the indemnifier will not lose money on the deal in question. There is no need to “look first” to anyone else to make good the debt or obligation. The landlord will always prefer an indemnity over a guarantee.