loan guarantee (Q1310)
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A loan guarantee is a legally binding agreement where a third party, known as the guarantor, agrees to pay off a loan if the borrower defaults.
- loan guarantees
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | loan guarantee |
A loan guarantee is a legally binding agreement where a third party, known as the guarantor, agrees to pay off a loan if the borrower defaults. |
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Statements
A loan guarantee is a legally binding agreement where a third party, known as the guarantor, agrees to pay off a loan if the borrower defaults.
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