To assume the liability for debts of another in the event of the other's default.
The undertaking so given.
In English law, a stronger form of security than a guarantee would be a bond, a bond being a direct primary obligation from the issuer of the bond, such as a bank or insurance company.
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'.
- Accommodation finance
- Bid bond
- Contingent liabilities
- Guarantee line