guarantor Synonyms

Synonyms

Strongest:

• sponsor
• patron

Strong:

• advocate
• supporter
• surety
• benefactor

Weak:

• mentor
• teacher
• champion
• coach
• underwriter
• chaperon
• cosigner
• cosponsor
• backer
• chaperone

guarantor Meaning

Wordnet

guarantor (n)

one who provides a warrant or guarantee to another

Webster

guarantor (n.)

One who makes or gives a guaranty; a warrantor; a surety.

One who engages to secure another in any right or possession.

guarantor Sentence Examples

1. The guarantor pledged their assets to secure the loan in case the borrower defaulted.
2. Banks often require a guarantor to mitigate the risk of extending credit to individuals with poor credit histories.
3. A guarantor assumes legal responsibility for paying the debt if the primary borrower fails to do so.
4. Guarantors should carefully consider the financial implications before co-signing a loan.
5. In some cases, the guarantor may be liable for the entire amount of the debt, not just the portion that the borrower could not repay.
6. Co-signers and guarantors play similar roles in guaranteeing repayment, but the specific legal obligations may vary depending on the jurisdiction.
7. A guarantor's credit score can be affected if the borrower defaults on the loan.
8. Joint and several liability means that either the borrower or the guarantor is solely responsible for repaying the entire debt.
9. Guarantors typically have the right to be notified if the borrower misses a payment.
10. Guarantors should seek legal advice before signing a guarantee agreement to fully understand their responsibilities.

FAQs About the word guarantor

What is the meaning of the word guarantor

one who provides a warrant or guarantee to anotherOne who makes or gives a guaranty; a warrantor; a surety., One who engages to secure another in any right or p

What are the synonyms of the word guarantor

sponsor, patron, advocate,supporter, surety, benefactor, mentor,teacher, champion, coach

What are the antonyms of the word guarantor

No antonyms found.

What is the usage of word guarantor

The guarantor pledged their assets to secure the loan in case the borrower defaulted.

Banks often require a guarantor to mitigate the risk of extending credit to individuals with poor credit histories.

How to use the word guarantor in a sentence?

A guarantor assumes legal responsibility for paying the debt if the primary borrower fails to do so.

Guarantors should carefully consider the financial implications before co-signing a loan.