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[Music] guarantor rights and obligations the goal of this training video is to increase general understanding of the rights and obligations of the guarantor in the beginning of our lesson you will learn that the obligation of the guarantor is to repay the remaining loan if a borrower defaults the right of the guarantor is to withdraw from the deal before signing the contract every responsible guarantor should ask questions about all products terms and conditions key loan terms and conditions from the guarantors perspective interest rate repayment schedule penalty fee imagine that you agreed to become a guarantor of the loan which is very kind of you towards the borrower before you take a final decision and sign the agreements please kindly pay your attention to the costs you may bear based on this deal so what are your basic obligations as a guarantor in case the borrower for whom you are guaranteeing the loan does not repay you are obliged by the law to repay the remaining amount of t