Independent Legal Advice

This is legal advice from a lawyer who is not acting for the bank or one of the key parties to a deal.  It is required if someone is being asked to guarantee the debts or a loan to another party, and can include the situation where you personally are guaranteeing a bank loan to your own limited company.

The independent lawyer is advising YOU, not the bank or one of the main parties to the deal, and will tell you what your rights and obligations are, as well as the risks that you are taking on by getting involved.  Yes, it is more involved than simply saying “You could lose everything if you sign this guarantee!”

It can also include insurance contracts and waivers or releases from liability.

Be careful – don’t sign something if you don’t know what it means.


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1700 Varsity Estates Drive NW, Calgary, AB, Canada T3B 2W9
Office: (403) 457-4217 / Fax: (403) 210-3453