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personal guarantee
[/ˈpɜːrsənəl ɡærənˈtiː/]
noun
pl: personal guarantees
garantia pessoal
1.
A legal commitment by an individual to be personally responsible for a debt or obligation if the primary debtor fails to pay
The bank required a personal guarantee from the business owner before approving the loan.
O banco exigiu uma garantia pessoal do proprietário do negócio antes de aprovar o empréstimo.
2.
A promise made by an individual that binds their personal assets as collateral for a business or third-party obligation
As a personal guarantee, the director pledged his house as security for the company's debt.
Como garantia pessoal, o diretor ofereceu sua casa como segurança pela dívida da empresa.
Synonyms
personal liability
individual guarantee
personal commitment
surety
Antonyms
corporate guarantee
limited liability
Regional Variations
General Brazilian
garantia pessoal
Standard term used in commercial and banking contexts
São Paulo
garantia pessoal
Commonly used in financial and legal documents
Portugal
garantia pessoal
Formal legal term used in Portuguese banking and commercial law
Related Idioms & Phrases
to put one's neck on the line
to stake one's reputation
to personally vouch for
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