Business, Legal & Accounting Glossary
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.
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.
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This glossary post was last updated: 28th April, 2020 | 0 Views.