The meaning of GUARANTOR is one that promises to answer for the payment of a debt or performance of a duty in case of the other's default or failure to perform : one that gives a guaranty. A guarantor is someone who ensures loan obligations are met if the borrower defaults, providing reassurance to lenders. They must possess a strong credit history and sufficient income.
A guarantor is a person who helps someone who's borrowing money by promising to pay it back to the lender if the borrower is unable to. Sometimes you also need a guarantor to rent an apartment. A guarantor takes on real legal liability when someone else can't repay. Here's what that commitment covers, what rights you keep, and how to get released.
define: guarantor, guarantor in British English (ˌɡærənˈtɔː ) noun a person who gives or is bound by a guarantee or guaranty; surety GUARANTOR meaning: 1. a person who makes certain that something happens or that something is protected: 2. someone…. Learn more. guarantor - An entity or individual that legally promises to take responsibility for another's debt or contract performance, should they default or fail to uphold their agreement A guarantor is an individual or entity that agrees to take on the financial obligations of another party if they are unable to meet their commitments.
