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A release of personal guarantee form is used to free a guarantor from all claims specified in the document. A guarantor is someone who promises to ensure the payment of another's debts. Their obligation ends when the debt is paid, discharging them from further responsibility. Additionally, a guarantor can be released from liability if they consent in advance to an alternative course of action or through a Novation, meaning they choose to no longer rely on the guarantee. However, a guarantor cannot be released due to the death or insolvency of the principal debtor.
