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


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