rhizoverbBeta
DictionaryguarantorBacker of another's obligation
noun

guarantor

gair-un-TOR/ˌɡærənˈtɔːr/

A person or organization that promises to meet another's obligation if the original debtor cannot.

The guarantor pays the borrower's obligation when his empty wallet leaves him unable.

At a modern lending desk, an older East Asian woman offers her own funds on behalf of a younger white male borrower whose hands show an empty wallet; a Black female lending officer receives the payment.
Etymology
guarantOld Frenchprotector; pledge
+orEnglishone who

The older idea of a protector or pledge became a legal role: a guarantor provides security by undertaking to pay another person’s debt if that person fails to pay.

In context

Audiopedia1:53
the creditor first had to attempt to collect the debt from the debtor before looking to the guarantor for payment.
Surety

More examples

  • The bank requires a guarantor before approving the loan.
  • Both guarantors must pay if the borrower cannot.
  • The nonprofit acts as a guarantor for small business loans.

Forms

guarantor · guarantors

guarantee verb — Promise that an obligation will be fulfilled.

Similar words

surety
A formal legal term for someone responsible for another's debt.
cosigner
Signs the same agreement and shares legal responsibility for repayment.