Guarantor definition: Copy, customize, and use instantly
Introduction
The term "Guarantor" refers to an individual or entity that provides a guarantee to ensure the performance or payment of another party's obligations under a contract. It is typically used to provide security or reassurance to a creditor or other contracting party.
Below are various examples of how "Guarantor" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Guarantor" as an individual or entity
This definition ties "Guarantor" to its role as an individual or entity responsible for fulfilling obligations.
"Guarantor" means an individual or entity that guarantees the payment or performance of the obligations of another party, ensuring that if the primary party defaults, the guarantor will fulfill the obligation.
Definition of "Guarantor" as a financial backer
This definition connects "Guarantor" to its role as a financial backer.
"Guarantor" refers to an individual or organization that provides a guarantee to back the financial obligations of a borrower or debtor, agreeing to take on responsibility in case of default.
Definition of "Guarantor" as a surety
This definition links "Guarantor" to its role as a surety in contracts.
"Guarantor" means a party that provides a surety to guarantee that a principal debtor will fulfill its obligations under a contract, or otherwise, the guarantor will be held liable for those obligations.
Definition of "Guarantor" as a co-signer
This definition ties "Guarantor" to its function as a co-signer in loan agreements.
"Guarantor" refers to a co-signer in a loan agreement or credit arrangement, who assumes responsibility for the debt if the primary borrower defaults.
Definition of "Guarantor" as a third-party security provider
This definition connects "Guarantor" to its role in providing third-party security.
"Guarantor" means a third party that provides a guarantee to secure the obligations of another party, ensuring that if the principal party defaults, the guarantor will step in to meet the obligations.
Definition of "Guarantor" as a corporate entity
This definition links "Guarantor" to a corporate context.
"Guarantor" refers to a corporate entity that provides a guarantee to secure the financial obligations or performance of another business or individual, often for loans or credit arrangements.
Definition of "Guarantor" as a person or business offering security
This definition connects "Guarantor" to its role in offering security.
"Guarantor" means any person or business offering a guarantee as security for the obligations of another party, ensuring that the guarantor will be liable in case of default.
Definition of "Guarantor" as a party in a financial transaction
This definition ties "Guarantor" to a specific financial transaction.
"Guarantor" refers to a party in a financial transaction who assumes responsibility for the payment or performance of another party's obligations under the contract, typically to reduce the risk for the lender.
Definition of "Guarantor" as a creditor's safeguard
This definition links "Guarantor" to its role in safeguarding the creditor.
"Guarantor" means a person or entity that acts as a safeguard for a creditor, agreeing to assume liability for a debtor’s obligations if the debtor fails to fulfill them.
Definition of "Guarantor" as a secondary obligor
This definition ties "Guarantor" to its function as a secondary obligor.
"Guarantor" refers to a secondary obligor who agrees to fulfill the obligations of the primary party if that party defaults, ensuring that the contract remains enforceable.
Definition of "Guarantor" as a guaranty provider
This definition connects "Guarantor" to its function as a provider of a guaranty.
"Guarantor" means an individual or entity that provides a guaranty to back the obligations of another, ensuring that in the event of default, the guarantor will fulfill the responsibility.
Definition of "Guarantor" as a financial security provider
This definition ties "Guarantor" to the provision of financial security.
"Guarantor" refers to a party who provides financial security to ensure the performance or payment of another party’s obligations, particularly in credit, loan, or rental agreements.
Definition of "Guarantor" as a contractual security provider
This definition connects "Guarantor" to its role in providing security in a contract.
"Guarantor" means a party who provides security under a contract, agreeing to cover the obligations of the principal party in case of non-performance or default.
Definition of "Guarantor" as a performance assurer
This definition links "Guarantor" to performance assurance.
"Guarantor" refers to an individual or entity that assures the performance of another party’s obligations under a contract, assuming responsibility if the primary party fails to fulfill them.
Definition of "Guarantor" as a backer in lending agreements
This definition connects "Guarantor" to lending agreements.
"Guarantor" means an individual or entity that acts as a backer in lending agreements, ensuring repayment or compliance with the terms by the borrower in case of default.
Definition of "Guarantor" as a responsible party
This definition ties "Guarantor" to its responsibility in guaranteeing obligations.
"Guarantor" means a responsible party who ensures the performance or payment of obligations of another party, stepping in to fulfill the commitment in the event of default.
Definition of "Guarantor" as a contractual backup
This definition connects "Guarantor" to its role as a backup in contracts.
"Guarantor" refers to a party acting as a backup to ensure the obligations of the principal party are met under a contract, typically assuming liability if the primary party fails to comply.
Definition of "Guarantor" as a credit support
This definition links "Guarantor" to its role in credit support.
"Guarantor" means an individual or entity that provides credit support, guaranteeing that obligations related to a loan, payment, or contract will be fulfilled if the primary obligor defaults.
Definition of "Guarantor" as a liability insurer
This definition ties "Guarantor" to liability coverage.
"Guarantor" refers to a party who assumes liability for another party's obligations, ensuring that the liabilities are covered if the principal party defaults on their commitments.
Definition of "Guarantor" as a co-debtor
This definition connects "Guarantor" to its role as a co-debtor.
"Guarantor" means a co-debtor in an agreement who agrees to take on the repayment responsibility if the primary debtor defaults.
Definition of "Guarantor" as a financial responsibility holder
This definition links "Guarantor" to holding financial responsibility.
"Guarantor" refers to a party that holds financial responsibility for the repayment or performance obligations of another party, typically securing financial agreements such as loans.
Definition of "Guarantor" as a secondary liability holder
This definition ties "Guarantor" to secondary liability.
"Guarantor" means a secondary liability holder who agrees to assume responsibility for the obligations of the primary obligor in the case of default.
Definition of "Guarantor" as a promise-maker
This definition connects "Guarantor" to making promises to perform.
"Guarantor" refers to a promise-maker who assures that the terms of an agreement will be met by either the guarantor or the primary party, acting as a safety net in case of failure.
Definition of "Guarantor" as a risk mitigator
This definition links "Guarantor" to risk mitigation.
"Guarantor" means a party that mitigates risk by offering to cover the obligations of another party if they fail to meet their contractual duties.
Definition of "Guarantor" as a surety party
This definition connects "Guarantor" to its role as a surety.
"Guarantor" refers to a surety who guarantees the performance or payment of obligations in a contract, assuming liability if the primary party defaults.
Definition of "Guarantor" as a party with conditional liability
This definition ties "Guarantor" to conditional liability.
"Guarantor" means a party with conditional liability, agreeing to perform under the contract if the principal party fails to meet their obligations.
Definition of "Guarantor" as an auxiliary obligor
This definition links "Guarantor" to its role as an auxiliary obligor.
"Guarantor" refers to an auxiliary obligor who agrees to meet the obligations of a principal party if they default, providing a secondary means of ensuring compliance with the contract.
Definition of "Guarantor" as an accountability provider
This definition connects "Guarantor" to its role in ensuring accountability.
"Guarantor" means a party that provides accountability for another party’s obligations, agreeing to cover the cost of performance or payment if the primary party fails to deliver.
Definition of "Guarantor" as a performance assurer in contracts
This definition ties "Guarantor" to assuring performance in contracts.
"Guarantor" refers to an individual or entity that assures the performance of another party’s contractual obligations, agreeing to fulfill them if the primary party defaults.
Definition of "Guarantor" as a party ensuring contract fulfillment
This definition connects "Guarantor" to ensuring contract obligations.
"Guarantor" means a party that ensures the fulfillment of a contract’s obligations by guaranteeing performance or payment if the primary party fails to comply.
Definition of "Guarantor" as a repayment facilitator
This definition links "Guarantor" to facilitating repayment.
"Guarantor" refers to a party that guarantees repayment of debt or fulfillment of obligations by assuming responsibility in the event of default by the primary obligor.
Definition of "Guarantor" as a contingent liability holder
This definition ties "Guarantor" to contingent liability.
"Guarantor" means a party that holds contingent liability, agreeing to pay or perform the obligations of another party if they are unable to do so.
Definition of "Guarantor" as a primary risk mitigator
This definition connects "Guarantor" to risk mitigation.
"Guarantor" refers to a party that acts as a primary risk mitigator by offering a guarantee of performance or payment in the case of non-performance by the primary party.
Definition of "Guarantor" as an additional obligor
This definition links "Guarantor" to its role as an additional obligor.
"Guarantor" means an additional obligor who agrees to assume responsibility for the obligations of the principal party in the event of default.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.