A guarantor, meaning a person who signs up to repay a loan if the primary borrower cannot, is a term most often used in relation to borrowing. However, a guarantor can also corroborate the identity of a person, for instance, if you are looking to get a job. 

In the financial sense, the guarantor definition is simple: it refers to the person who may attach his or her assets as security for a loan and is liable for repayment in case you are unable to repay. However, the guarantor does not have any claims towards the asset you, as the borrower, are purchasing.

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