When applying to a loan or any financial facility, it is very common to be requested to provide "A guarantee".
A guarantee is a promise to support "the debt, default or miscarriage of another", in the case the borrower fails to meet the obligation.
A guarantee must be evidenced by a written note or memorandum signed by the guarantors or their provider. Without such written evidence, a guarantee is unenforceable and will not respect.
The types guarantees which are usually requested when applying for a loan (for any kind of financier):
There are more shapes of guarantees, but these are the common ones.
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