An accommodation bill is a bill of exchange signed by a guarantor known as the accommodation party, who is liable if the acceptor defaults.
An Accommodation Party refers to an individual who signs a negotiable instrument as a drawer, acceptor, or endorser without receiving value, serving as a guarantor for the party obtaining value.
A comprehensive exploration of a guarantor, an individual or entity that guarantees, endorses, or provides indemnity agreements related to debts. This entry covers types, historical context, examples, and frequently asked questions.
A comprehensive guide to understanding the role of a guarantor in finance, including definitions, examples, responsibilities, and special considerations.
