Yes, once you sign and execute the document correctly, the guarantee becomes a legally binding agreement. Signing the document in the presence of a notary public helps reinforce the validity of the agreement. LawDepot’s Personal and Corporate Guarantee template includes a term that makes this promise enforceable for as long as the debtor owes a debt to the lender. As long as there’s a debt owed, the guarantor has an obligation to pay that debt if the debtor cannot. For instance, if the guarantee is for a ProductLink code="BLOAN" text="Loan Agreement", the guarantor is bound until the debtor repays the loan or the lender releases the guarantor from liability with a ProductLink code="RELEAS" text="Debt Settlement". Similarly, if someone is the guarantor for a ProductLink code="RESLSE" text="Residential Lease Agreement", they are bound to the guarantee until all outstanding debts are paid. If you use LawDepot’s Lease Agreement template, you have the option to include a guarantor’s signature without needing to create a separate Personal Guarantee form.