Is verbal commitment final?
No, absolutely not. Unless and until you sign on the dotted line you have an option to back out of the negotiation process any time you want. You are under no obligation to go through with the deal if you are uncomfortable with any of the terms or if you are getting a better deal elsewhere. Who can be a guarantor? A guarantor can be any relative, or a director in case of private limited company. The relative is defined as Father, Mother (including Step mother), son (including step son), son’s wife, daughter (including step daughter), son’s son, son’s son’s wife, son’s daughter, daughter’s daughter, daughter’s daughter’s husband, brother (including step brother), brother’s wife, sister (including step sister), wife/husband and sister’s husband. Boy what that confusing! Well in short, almost all the near and dear ones you know could be the guarantors. However for consideration of these relatives as guarantors for the loan they should comply with the age and other norms of the company. Wh
