A guarantor is an individual who agrees to take on the financial responsibility for a loan or rental agreement if the primary borrower defaults. This role is crucial when lenders or landlords seek extra assurance about the borrower's ability to meet their financial commitments. By co-signing an agreement, the guarantor lends their credibility, effectively vouching for the borrower's reliability. Understanding the role of a guarantor provides clarity on how financial institutions mitigate risks while offering individuals better chances of securing loans or rental agreements. For more info click here #guarantor
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