Does COI need guarantor?

[papi miloson]

If Guy A selling bike 3k + COI monthly and Guy B want buy like that, he give 3k and can ride already is it?
Or is there a need for Guy B to have a guarantor? 

P.S. I understand the risks of COI but keeping my options open

[adesmond2]

On 8/27/2022 at 11:34 PM, papi miloson said:

If Guy A selling bike 3k + COI monthly and Guy B want buy like that, he give 3k and can ride already is it?
Or is there a need for Guy B to have a guarantor? 

P.S. I understand the risks of COI but keeping my options open

usually guy B doesn't need any guarantor.. cuz there's no need for guy B to liaise with the bike shop.. Guy B just need to pray hard Guy A doesn't break his/her promise.. (Written confirmation is all just between Guy A/B) no legal enforcements on that..

Several Situations 

1) Guy A - turn back on words after full paid, bike still belong to Guy A (VERY COMMON)

2) Guy B - break any offences - Guy A received them and Guy B claimed paid but Guy A still received reminders (Also common back in my days)