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What (who) is guarantor - definition
MANDATORY ONE-SIDED CONTRACT, IS USED IN THE BANKING SECTOR
Surety bonds; Surety bond; Suretyship; Surety Bonds; Tax bond; License and permit bond; License and Permit; Guarantor; Accommodation party; Sureties; Mixed Beverage Gross Receipts Tax Bond; Surety agreement; Bonding company; Bonding Companies; Suretie; Guarantors; Suretyships; Surety ship; Surety ships; Bank guarantees; Surety company; Bond Rider; Contract of suretyship
guarantor
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.
See also: guarantee
guarantor
n.
(Low.) Warrantor.
guarantor
[?gar(?)n't?:]
¦ noun a person or organization that gives or acts as a guarantee.
Wikipedia
Surety
In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. The person or company providing the promise is also known as a "surety" or as a "guarantor".
Examples of use of guarantor
1. Medvedev defended the practice as a guarantor of steady supplies.
2. She is considered a guarantor of Poland‘s fiscal discipline.
3. Rather than being a guarantor of peace, the EU is needed now as a guarantor of stability in an era of rapid globalisation, he said.
4. Finally, a critical guarantor of independence for the sector in the future must be assets.
5. The state acts as a guarantor for the public utilities when they take out loans.