Guarantee
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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
- Bank guarantee
- Bid bond
- Bond
- Contingent liabilities
- Counter-indemnity
- Credit support
- Customs guarantee
- Default
- Deposit Guarantee Scheme
- Downstream
- Export Credits Guarantee Department
- Export Development Guarantee
- Guarantee line
- Guarantor
- Indemnity
- Interest rate guarantee
- Limited by guarantee
- Limited liability
- Multilateral Investment Guarantee Agency
- Performance guarantee
- Retention guarantee
- Security
- Tender guarantee
- Trade finance
- Upstream
- Warranty
