Terms Used In Idaho Code 26-711

  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
A bank may lend its credit, bind itself as a surety to indemnify another, or otherwise become a guarantor, only if it has a substantial interest in the performance of the transaction involved or has a segregated deposit sufficient in amount to cover the bank’s total potential liability.