Define: Guarantor

Guarantor
Guarantor
Quick Summary of Guarantor

A person who makes a legally binding promise to either pay another person’s debt or perform another person’s duty if that person defaults or fails to perform. The guarantor gives a “guaranty,” which is an assurance that the debt or other obligation will be fulfilled.

What is the dictionary definition of Guarantor?
Dictionary Definition of Guarantor
one who provides a warrant or guarantee to another n. a person or entity that agrees to be responsible for another's debt or performance under a contract if the other fails to pay or perform.
Full Definition Of Guarantor

One who guarantees an obligation and has a legal duty to fulfill it.

Related Phrases
Disclaimer

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This glossary post was last updated: 28th March, 2024.

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