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Difference Between Guarantor and Witness Signature #Shorts #guarantor #witness #loan

A guarantor is a person who stands as a security for another person's debt or obligation. A guarantor typically provides a guarantee that they will pay the debt or fulfill the obligation if the primary borrower or obligor is unable to do so. A guarantor is often required when a borrower lacks sufficient credit history or collateral to secure a loan or other financial arrangement.

A witness is a person who observes an event or a transaction and can testify to what they saw or heard. A witness may be required to provide evidence or testimony in a legal proceeding or other formal process. A witness does not have any financial responsibility or obligation related to the event or transaction.

In summary, a guarantor is a person who takes on financial responsibility or liability for someone else's debt or obligation, while a witness is a person who observes an event or transaction and can provide testimony about it.

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