Document background
A Deed of Release of Guarantee is utilized when parties wish to formally terminate guarantee obligations that were previously established. This document is particularly important in the United States where formal release of obligations requires clear documentation to ensure enforceability. The deed typically includes details of the original guarantee, the scope of the release (whether partial or complete), and any surviving obligations. It's commonly used when refinancing, restructuring debt, or when the original guarantee is no longer required due to changed circumstances.
