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
Gross Proceeds
Includes sale proceeds, investment proceeds, transferred proceeds (which, together with sale and investment proceeds equal the “proceeds” of the bonds) and replacement proceeds, all of which are defined in the Code.