Guarantee agreement
It backs the performance of an obligation: if the obligated party doesn't comply, it gives the creditor something to fall back on. It can be personal or over assets, and the key is to define precisely what it covers and how far it goes.
Requesting a quote doesn't commit you to anything
- You tell us about your case. It's free.
- We send you the price in writing, within 1 to 3 hours.
- You decide. If it works for you, we start. If not, you delete it with one click and pay nothing.
No one will pressure you. Your information is used only for your case.
Is it for you?
If any of these sounds like you, this procedure is for you.
- For the creditor who wants to secure performance of what was agreed, for the debtor who needs to offer credible backing, and for companies that sign construction or supply contracts where a performance guarantee is required
What's included and what isn't
Everything clear from the start. No fine print.
Includes
- Review of the obligation to be backed.
- Drafting of the guarantee agreement, defining type, scope, amount and term.
- Coordination of the notary appointment.
- Support on signing day.
Does not include
- Recording a mortgage, which is done at the Registro Inmobiliario (Real Estate Registry), or formally creating a pledge over vehicles before the relevant agencies.
- The official notary fees, which are paid separately per page.
Add to your procedure
Check it and we include it in your quote. You decide at the end.
What you need
Check off what you already have. You don't need everything to request your quote.
You have 0 of 4.
- Details of the party giving the guarantee and of the party receiving it
- Details of the obligation being backed
- Description of the backing (personal or over an asset)
- And the valid cédulas (Venezuelan national ID cards) of the signatories, who sign in person at the notary office
How the process works
You do very little. We take care of the rest. The whole process: on average, 2 to 4 business days.
- Step 1
Tell us about your backing
You explain which obligation you want to back and with what asset or means.
You do this - Step 2
We define type and term
We draft the guarantee, setting its type, scope and term.
We do this - Step 3
You sign
We book the appointment, and the parties sign in person with their cédula before the notary, a public official.
You do this - Result
Done
We hand you the authenticated document.
You receive it
We draft the contract, book the appointment at the Notaría Pública (government notary office) and the parties sign in person.
What it costs and how to pay
There are two separate payments, and we want you to see them clearly.
Our fee: we do all the work for you.
The official notary fee. It goes straight to the agency, and we give you the exact amount, with its receipt, before you pay anything.
How you pay: You pay once, when we start. In dollars, in bolívares at the official BCV exchange rate, or with Cashea.
How is your investment calculated?
Your investment has two parts, and we tell you about each one separately. Our base professional fee, from $55, to draft the guarantee with a well-defined scope and handle its authentication; this base covers a standard guarantee, and if it backs a large amount, the fee is adjusted proportionally to the transaction, something we agree on with you before drafting
The official notary fee, which is calculated per page and paid in bolívares at the official BCV exchange rate on the day of the procedure Your lawyer gives you the exact figure before you pay anything, no strings attached.
FAQ
What happens if the other party defaults and I didn't ask for a guarantee?
You're left with a contract and a lawsuit. With a guarantee, you have something to collect from without depending on the goodwill of the party that defaulted.
What's the difference between a guarantee and a surety?
A surety (fianza) is a specific personal guarantee, where a guarantor answers; a guarantee is the broader concept and can rest on people or assets.
How much does it cost?
The professional fee, from $55, covers drafting and authentication; the notary fee is separate.
Can you set an amount and a term?
Yes, and we always recommend it.
Does it work for construction contracts?
Yes, performance guarantees are very common there.
About this procedure
A guarantee is the mechanism that secures the performance of an obligation. In practical terms, it's the backing that gives the creditor peace of mind that, if the debtor doesn't comply, there's something or someone that answers for it. Guarantees can be personal (a person answers with their assets, as in a surety, or fianza) or real (a specific asset is tied up, as in a pledge or a mortgage). Performance guarantees are also widely used in construction and supply contracts, where one party assures the other that it will carry out what was agreed. The essential thing in any guarantee is to clearly define three things: which obligation it backs, what its amount or scope is, and how long it stays in force. We draft the document spelling out those points and authenticate it at the notary office so it has a fecha cierta (a legally certain date, so the document holds up against third parties) and full validity against third parties. If what you're looking for is specifically to back another person as a guarantor, see our Surety agreement (fianza); and if a bank or insurer issued a bond on your behalf, what it will ask you for is a Counter-guarantee: the backing you give it so it can recover whatever it has to pay if the bond is called.
Legal framework and important notes
Ley de Registros y Notarías (Registries and Notaries Law) · Código Civil (Civil Code)
- What you can't leave vague is which obligation the guarantee backs, for what amount and until when
- A guarantee drafted in vague terms loses strength right when you need it most
- We put those three points in writing, with no ambiguity
We guarantee our service, not what the agency decides. If something depends on them, we tell you clearly and in time.
Is your case different?Ask us, message us on WhatsApp or book a free consultation. A real person answers you.