What does Guarantor mean? Read on to discover the definition & meaning of the term Guarantor - to help you better understand the language used in insurance policies.
A guarantor is a third party in a contract who promises to pay for certain liabilities if one of the other parties in the contract defaults on their obligations. Guarantors sometimes appear on insurance contracts and also provide a sort of insurance themselves.
We hope the you have a better understanding of the meaning of Guarantor.