Guaranty
A third party’s promise to pay the debt service on the bonds or perform some other obligation, which is the primary obligation of another party.
bond-basics
Guarantor
The third party that executes a Guaranty.
Life’s a Party
Learn more about the various parties involved in a municipal securities transaction and their roles.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Special Tax Counsel
An attorney or firm of attorneys engaged to render opinions on the federal and/or state tax exemption for tax-exempt bonds and those aspects of the transaction relating to whether the tax-exempt bonds qualify for federal tax exemption and, in some cases, state tax exemption.