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ZKFARCASTER
@zktech
The difference between a Guarantor, Surety and Referee.... A Guarantor is not a Surety and definitely not a Referee Let’s get this straight. A lot of people confuse these terms. Some even think they all mean the same thing. They don’t. When you stand as a Guarantor, you are giving the lender a promise that you will pay if the borrower fails to pay after all steps have been taken to recover the debt from the borrower first. The borrower must first default. The lender must first exhaust all means to get the borrower to pay. Only then can they come for you as the guarantor.
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