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Bookmark or Share- What Is a Guarantor? Definition, Example, and ResponsibilitiesA guarantor is a financial term describing an individual who promises to pay a borrower's debt if the borrower defaults on their loan obligation. Guarantors...
- GUARANTOR | English meaning - Cambridge Dictionarysomeone who formally accepts responsibility for you or for something that belongs to you: You must have a guarantor in order to get a visa to enter the country. finance & economics specialized. a person or organization that promises to pay back a loan (= borrowed money) if the person or organization that borrowed it cannot pay it back:
- What Is a Guarantor? - The BalancePros and Cons of Guarantors. Photo: ONOKY - Eric Audras / Getty Images. Definition. A guarantor is an individual or business that guarantees repayment of a debt. If the borrower defaults on their payment, the lender may require the guarantor to pay.
- What Is A Guarantor? Definition, Example, And ResponsibilitiesA guarantor is an individual who agrees to be legally responsible for another person’s financial obligations if that person fails to fulfill them. This means that the guarantor is essentially offering a guarantee to the lender that the borrower will meet their financial commitments. Think of a guarantor as a safety net.
- GUARANTOR | definition in the Cambridge English Dictionarysomeone who formally accepts responsibility for you or for something that belongs to you: You must have a guarantor in order to get a visa to enter the country. finance & economics specialized. a person or organization that promises to pay back a loan (= borrowed money) if the person or organization that borrowed it cannot pay it back:
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