Guarantor: meaning, definitions and examples

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guarantor

[ ˈɡɛrəntər ]

^{Context #1}

financial security

A person or organization that agrees to be responsible for someone else's debt or performance of an obligation if that person or organization fails to meet their obligation.

Synonyms

cosigner, surety, underwriter

Examples of usage

He agreed to be the guarantor for the loan.
The bank required a guarantor for the mortgage.
The guarantor's signature was needed for the contract.
She acted as a guarantor for her friend's lease.
The guarantor is legally bound to fulfill the obligations if the borrower defaults.

Translations

Translations of the word "guarantor" in other languages:

🇵🇹 fiador

🇮🇳 गारंटर

🇩🇪 Bürge

🇮🇩 penjamin

🇺🇦 поручитель

🇵🇱 poręczyciel

🇯🇵 保証人 (ほしょうにん)

🇫🇷 garant

🇪🇸 fiador

🇹🇷 kefil

🇰🇷 보증인 (bojeungin)

🇸🇦 ضامن

🇨🇿 ručitel

🇸🇰 ručiteľ

🇨🇳 担保人 (dānbǎo rén)

🇸🇮 porok

🇮🇸 ábyrgðarmaður

🇰🇿 кепілгер

🇬🇪 მეურვე

🇦🇿 zamin

🇲🇽 fiador

Word origin

The word 'guarantor' originated from the Old French word 'garant,' which means 'warrantor' or 'one who assures.' The concept of a guarantor has been present in various forms throughout history, where individuals or entities would provide security or assurance for the fulfillment of obligations. In modern finance, a guarantor plays a crucial role in providing financial security for loans, leases, and other agreements.