End of a guarantee given by the company director

No. The termination of his functions does not release the director from his guarantee commitment, unless it was expressly stipulated in the guarantee agreement that the guarantee was linked to his status as director and that it would cease automatically in the event of loss of this capacity. In the absence of such a mention, the director still can (when he ceases to exercise his functions), terminate his commitment, if the guarantee was promised for an indefinite period. To that effect, he needs to expressly inform the bank about his decision to terminate the guarantee agreement, which means, if he does not terminate the contract, he continues to be liable for the debts of the company guaranteed by him!