Collateral is property guarantee of a third party: in this case, the third party will use the assets in his ownership to ensure repayment of the borrower, and the third party is obliged to pay the debt instead of borrowers if lenders do not have the ability to pay debt or no debt. In this type, the third party stand out guarantees for borrowers must be an organization or individual who has full legal capacity and are eligible to pay the loan and the interest of the borrower.
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