Outrageously Funny Word Dictionary :: Coguarantor

👉 In legal terms, a "coguarantor" is an individual or entity who provides financial support to another party in exchange for the payment of a portion of the costs associated with that party's obligations. This arrangement can be used as a form of insurance, where the person providing the financial assistance agrees to pay back any money they receive from the other party if the latter defaults on their obligations. In a more general context, "coguarantor" refers to someone who is financially responsible for

coguarantor