Definition, Meaning & Synonyms
assuror
Noun
/əˈʃʊrər/
Definition
A person or entity that provides a guarantee or insurance against a particular risk or obligation.
Examples
- The assuror promised to cover the costs in case of damages.
- In a loan agreement, the bank acts as an assuror to guarantee the repayment.
- Each party must choose an assuror to ensure compliance with the contract.
Meaning
An assuror is typically involved in contracts where they ensure that a duty will be fulfilled or a risk will be covered, thus providing security to the parties involved.
Synonyms
- Guarantor
- Insurer
- Warranter
- Protector
