Guarantee: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add link to UK Finance webpage.) |
imported>Doug Williamson (Layout.) |
||
| Line 46: | Line 46: | ||
==Other links== | |||
*[http://www.treasurers.org/node/9128 Bank guarantees, letters of credit and performance bonds, The Treasurer 2013] | *[http://www.treasurers.org/node/9128 Bank guarantees, letters of credit and performance bonds, The Treasurer 2013] | ||
*[https://www.bba.org.uk/customers/business-banking/financial-support/bonds-guarantees/ UK Finance - Bonds & Guarantees] | *[https://www.bba.org.uk/customers/business-banking/financial-support/bonds-guarantees/ UK Finance - Bonds & Guarantees] | ||
Revision as of 11:49, 4 April 2021
1. Debt - trade finance - verb.
To assume the liability for debts of another in the event of the other's default.
2. Debt - trade finance - noun.
The undertaking so given.
In English law, a stronger form of security than a guarantee is a bond, a bond being a direct primary obligation from the issuer of the bond, such as a bank or insurance company.
3. Trade finance.
An alternative name for a bond, issued for example by a bank or insurance company.
4. Manufacturers and suppliers.
A manufacturer's or supplier's formal promise about the quality or performance of goods, usually given for a pre-defined period after purchase.
Also known as a 'warranty'.
See also
- Accommodation finance
- Advance payment guarantee
- Bid bond
- Bond
- Contingent liabilities
- Counter-indemnity
- Customs guarantee
- Default
- Downstream
- Guarantee line
- Guarantor
- Indemnity
- Limited liability
- Performance guarantee
- Retention guarantee
- Security
- Tender guarantee
- Trade finance
- Upstream
- Warranty
