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In English law, a guarantee is a contract whereby the person (the guarantor) enters into an agreement to pay a debt, or effect the performance of some duty by a third person who is primarily liable for that payment or performance. The extent of the debt that the guarantor is liable to this debt is co-extensive to the obligation of the third ...
A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be ...
Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
The guarantor might extend the guarantee to all or a portion of the loan. The guarantee protects the lender, not the borrower. Ultimately, the guarantee allows the lender to more confidently ...
A personal guarantee is a promise made by a person or an organization (the guarantor) to accept responsibility for some other party's debt (the debtor) if the debtor fails to pay it. In the case of a personal guarantee made by an individual on behalf of another, the person who makes the personal guarantee is usually referred to as a co-signer ...
A guarantor is a person who agrees to repay the borrower’s debt should the borrower default on agreed repayments. The guarantor is often a family member or trusted friend who has a better credit history than the person taking out the loan and the arrangement is, therefore, viewed as less risky by the lender.
The company limited by guarantee typically does not itself provide client-facing services. The Big Four accountancy firms (Deloitte, [8] Ernst & Young, [9] KPMG, [10] and PriceWaterhouseCoopers [11]) are each organized using this structure. Some law firms also use this structure to establish an internationally branded presence.
These are babies born into uncertainty, children whose futures will be marked by legal precarity and exclusion simply because of their parents’ immigration status.