Question. What are the guarantor's obligations?

Answer: The guarantor is responsible for the loan in the same amount as the borrower.

This means that in case of default by the borrower, the guarantor must completely repay the borrower's liability, penalties and fines up to by own property.

Also, in case of failure by the borrower to fulfill his/her obligations, the guarantor's credit history also suffers.

So, all banks and credit organizations call everyone to treat the guarantee seriously and with a sense of responsibility.

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