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Who qualifies as a guarantor?

A guarantor must have known you for at least 2 years. A guarantor must be available when officials need to contact them. A guarantor must be a Canadian citizen 18 years of age or older. A guarantor must provide the required information in their passport.

What is an example of a guarantor?

For example, in a rental agreement, a co-signer would be responsible for the rent from day one, whereas a guarantor would only be responsible for the rent if the renter fails to make a payment. This also applies to any loan. Guarantors are only notified when the borrower defaults, not for any payment before that.

Who qualifies as a guarantor in Canada?

A guarantor can be a family member or someone else you know. However, they must: be a Canadian Citizen. know you (the applicant) personally, for at least 2 years, and.

What is a declaration of guarantor?

Declaration from a Guarantor. Description. An Ontario Photo Card (OPC) or drivers licence applicant must provide an identity document to prove signature. If the applicant does not have a proof of signature document, the Declaration from a Guarantor form will allow a guarantor to vouche for the applicants signature.

What is the proof of guarantor?

The following documents are commonly requested from a guarantor: proof of identity, such as a passport or drivers licence. proof of address, such as a utility bill or bank statement. proof of income or financial means, such as bank statements or tax returns.

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