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Indemnities / guarantor
An indemnity is a form of guarantee which may be requested by a finance company. If the consumer fails to pay an instalment, the person who gives the indemnity / guarantor will be required to make the payment instead. Regulated agreements are governed by 'The Consumer Credit Act'.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: Auto loans
- Company: Mercedes-Benz
- Product:
- Acronym-Abbreviation:
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