guarantor
guarantor, defined:
a party who guarantees payment of a debt. The term, guarantor, designates obligation. It is common to contracts as in the case of a co-signor who guarantees a loan or a bank that might act as the guarantor of commercial debts.
guarantor, as it might be used:
The FDIC acts a guarantor for the baking industry.
An example of guarantor:
Fiona's nephew Angus is newly married and has yet to establish credit. To help Angus and his wife Sharon buy a first home, Fiona agrees to act as guarantor and co-sign the note for a home loan.
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Clear-Point Law Dictionary
