Cosigner

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Cosigner

A term referring to a person, other than the principal borrower, who signs for a loan. The cosigner(s) assumes equal liability for the loan.

Cosigner

A third party to a loan who provides a guarantee that a loan will be repaid. The guarantee by the cosigner reduces the risk that the lender will lose the money he/she has distributed to the borrower. The cosigner signs an agreement with the lender stating that if the borrower fails to repay the loan, the cosigner will assume legal liability for it. A cosigner may be an institution, but is often a relative or friend of the borrower, especially for personal loans. Persons with little or poor credit history sometimes cannot receive a loan without a cosigner. See also: Surety.

cosigner

A person who signs a promissory note in such a capacity that he or she has equal and primary liability with another. Contrast with a guarantor, who is liable only if the original obligor defaults. A cosigner must list the promissory note as a liability on financial statements; a guarantor has only contingent liability which may never ripen into full liability.

References in periodicals archive ?
Go ahead and cosign if you know the borrower, know what the money will be used for, and you are sure that in the worst-case scenario you and the borrower have the resources - and the willingness - to work out a solution that minimize the impact on your financial standing.
The CoSign product line includes native integrations into a wide variety of systems including Microsoft Office, Office 365, SharePoint, Nintex, K2, OpenText, Oracle, Alfresco and others.
With the CoSign connector, Fastman makes it easy for these organizations to go truly paperless and eliminate the expensive and time-consuming reintroduction of paper each time a signature is required.
For additional information, visit CoSign 360's website at www.
The company said that users of the new CoSign for SharePoint version can digitally sign InfoPath forms without having CoSign or InfoPath installed on their machines.
CoSign 360 has experienced great success in providing music industry leads to independent music artists.
A CoSign electronic signature solution from ARX Inc (Algorithmic Research), a provider of digital signatures and data security solutions, has been implemented for GlobalVetLink (GVL), a provider of web-based services for the veterinary profession.
In the near future, Brainlab's Germany-based employees will use CoSign to digitally sign Word, PDF, and InfoPath documents stored within SharePoint.
the leading provider of digital signature solutions, is very excited to announce the recent implementation of the CoSign digital signature solution at the City of Vernon, located in the Canadian province of British Columbia.
When you cosign, you should know that you are responsible for the account if the other person defaults on the loan.
ARX CoSign excels above the competition because of the level of hardware security combined with the available APIs," Josh Orr, Solutions Architect, said.
SAN FRANCISCO -- ARX (Algorithmic Research), the leading provider of digital signature solutions has successfully implemented the CoSign digital signature solution at PRA, a global clinical research organization (CRO).