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
State and Local Government Series Securities (SLGS)
Pronounced “slugs,” an acronym for “State and Local Government Series,” which are special United States Treasury securities sold to issuers and conduit borrowers directly by subscription from the Department of the Treasury.