To print this article, all you need is to be registered or login on Mondaq.com. Most forms of franchise agreements require the provision of a personal guarantee by the franchisee shareholders to guarantee the franchisee corporation's obligations under the agreement. In all provinces and territories in Canada, aside from Alberta, this guarantee is effected by having the guarantors bind themselves by executing a personal guarantee agreement. In Alberta, however, there is an added step to obtaining a binding personal guarantee in addition to executing the guarantee agreement itself, due to the application of the Guarantees Acknowledgment Act (GAA). Originally enacted as a form of