The guarantee obtained from a guarantor can be considered as a form of repayment comfort for a bank or financial institution since they can request for settlement of the credit facility outstanding or arrears in circumstances when the borrower failed to make such payment. Guarantor can be obtained before a credit application is submitted for the bank’s/ financial institution’s approval.

Guarantor can be created during credit application process or after customer has accepted the offer of facility.

This function basically allows user to maintain the guarantor to secure the respective credit facility.