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Tags: finance
Categories: Economics & Finance
Person or entity who guarantees to pay for someone else’s debt if he or she should.default on a loan obligation. A guarantor acts as a co-signor of sorts, in that they pledge their own assets or services if a situation arises in which the original debtor cannot perform their obligations.
(source: http://www.investopedia.com/terms/g/guarantor.asp)
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