Guarantee: Difference between revisions
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* [[Bid bond]] | * [[Bid bond]] | ||
* [[Bond]] | * [[Bond]] | ||
* [[Contingent liabilities]] | |||
* [[Downstream]] | * [[Downstream]] | ||
* [[Guarantor]] | * [[Guarantor]] | ||
Revision as of 10:38, 12 August 2016
1.
To assume the liability for debts of another in the event of the other's default.
2.
The undertaking so given.
In English law, a stronger form of security would be a bond, a bond being a direct primary obligation from the issuer of the bond, such as a bank or insurance company.
See also
Other links
Bank guarantees, letters of credit and performance bonds, The Treasurer 2013
