guarantor

Definition

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

Use guarantor in a sentence

My friend acted as the guarantor which meant that they would pay for the apartment if I could not meet the rent price.

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As Eric had signed his name as a guarantor, he was responsible for paying off the rest of the loan his idiot brother had defaulted on.

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The girl used her parents as a guarantor on her car loan in the event of default which ensured the loan would be paid regardless of her personal circumstances.

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guaranty guarantee fee