A guarantee is a promise or assurance from the guarantor ensuring that the liabilities of a debtor will be fulfilled. In other words, if the debtor fails to perform its obligation, the guarantor will perform or otherwise compensate to the creditor.
A guarantee is a promise or assurance from the guarantor ensuring that the liabilities of adebtor will be fulfilled. In other words, if the debtor fails to perform its obligation, theguarantor will perform or otherwise compensate to the creditor.