When you cosign for any credit, you serve as the guarantorof the account, meaning if the other person for whom you co-signed does not pay, you become responsible for the account.
However, the guarantor, like the issuer of a documentary credit, is concerned not with the fact of default, but only with documents.
但是,如同跟单信用证的开证人一样,担保人仅仅处理单据,而不考察事实上是否发生了违约。
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II. The Lender shall have a written authorization of both Borrower and Guarantor to inquire about their personal credit records and have personal credit information reports.