Release from guarantee
A written agreement by the creditor that the guarantor is no longer bound by some or all obligations under the guarantee.
Related terms
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Guarantee liability
The amount or obligation a guarantor may have to pay under the wording of a valid and enforceable guarantee.
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Guarantee agreement
A contract under which a guarantor agrees to meet another party’s obligations if that party does not do so.
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Lease guarantee
A guarantee supporting a tenant’s obligations under a lease, potentially making the guarantor liable if the tenant defaults.
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