guarantor

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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