guarantor

guarantor definition - business

guarantor

A person or entity that endorses or guarantees something. For example, a person or company may become a guarantor of a debt and be required to fulfill its terms in the event the primary debtor defaults.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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