What does counter guarantor mean?
The counter guarantor refers to the third party who guarantees the debtor and requires the debtor to provide guarantee in order to ensure the realization of its right of recourse. In order to prevent the guarantor from failing to investigate the guarantee matters due to problems, a counter guarantor is set up to guarantee the guarantor. When the guarantor has performed the guarantee responsibility, it can recover from the debtor, or require the counter guarantor to repay the guarantee responsibility that the guarantor has undertaken on behalf of the debtor. The counter guarantor is the guarantee provided by the guaranteed person to the guarantor in turn, and is responsible for paying the part exceeding the original guarantee amount of the guarantor.
