Co-guarantor
One of two or more people who have guaranteed the same debt. The guarantee wording determines how responsibility is divided or enforced.
Related terms
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Joint liability
An obligation shared by two or more people or organisations. The agreement and law determine whether each party can be pursued for all or only part of the debt.
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Personal guarantee exposure
The amount a guarantor may personally be at risk for under one or more guarantees, subject to the wording, security and enforceability of each agreement.
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Guarantor
A person or company that promises to meet another party’s debt or obligation if the primary debtor fails to do so.
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