aval

Aval or endorsement is a shared-in-common commitment of payment of an obligation in favor of the creditor or beneficiary, granted by a third party in case the first party does not fulfill the obligation to the creditor main forced one with the payment of a credit title. Endorsement implies the will of one third immersed person in the title of unilateral way, to this person is called guarantor to him. One is an instrument by which the third (guarantor)se jeopardizes to cover the payment with the amount of the credit title and its interests, in case indebted the original one (guaranteed) does not fulfill with which it corresponds to him.
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n. guarantee, assurance (Finance)

n. backing, support, guarantee; downstream water; downhill slope

n. guarantee

n. endorsement, indorsement; guarantee