Guaranty of Collection
1. Identification of Parties and Obligation. I, [name] (Guarantor), residing at [address], having received ........ as consideration, guarantee collection of [list of principal obligations, e.g., note, advances], executed by [name] (Obligor), residing at [address], to [name] (Obligee), residing at [address].
2. Limitation of Guaranty. This is a guaranty of collection only. As Guarantor, I will not make any payment to Obligee until Obligee diligently takes all legal steps to collect from Obligor and fails at those attempts.
3. Waivers. As Guarantor, I waive presentment, notice of dishonor, and protest in regard to this Guaranty of collection.