Guarantor
A person who pledges collateral for the contract of another
or who guarantees the performance of another.
A personal guarantor is somewhat like a co-signer. The guarantor agrees to
personally guarantee any processing losses Ballistic Merchant Services incurs
as a result of doing business with the merchant. A personal credit report may
be ordered for review by our underwriters.
A state agency or private, nonprofit institution or an organization that insures
lenders against losses due to a borrower’s
default, death, disability or bankruptcy.
