Definition, Meaning & Synonyms
guarantor
noun
/ˈɡɛrənˌtɔːr/
Definition
A person or entity that agrees to be responsible for someone else’s debt or obligation if that person fails to meet their responsibilities.
Examples
- The bank required a guarantor before approving the loan.
- As a guarantor, she pledged to cover the rent if her friend defaulted.
Meaning
A guarantor is typically involved in lending or financial agreements where they promise to take on the financial burden if the primary borrower cannot pay back a loan or fulfill obligations.
Synonyms
- surety
- cosigner
- guaranteer
