This document is used to release a guarantor from his obligations towards a beneficiary. The release from the guarantee is a result of payment of a settlement amount by the guarantor or the borrower.
Upon signing this deed, the guarantee is cancelled, and the beneficiary must hand it over to the guarantor.
This document contains the following sections:
This document is intended for use in the United Arab Emirates.
This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.