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  1. Dictionary
    guarantee
    /ˌɡarənˈtiː/

    noun

    • 1. a formal assurance (typically in writing) that certain conditions will be fulfilled, especially that a product will be repaired or replaced if not of a specified quality: "we offer a 10-year guarantee against rusting" Similar warrantywarrantcontractcovenant
    • 2. an undertaking to answer for the payment or performance of another person's debt or obligation in the event of a default by the person primarily responsible for it.

    verb

    • 1. provide a formal assurance, especially that certain conditions will be fulfilled relating to a product, service, or transaction: "the company guarantees to refund your money"
    • 2. promise with certainty: "no one can guarantee a profit on stocks and shares" Similar promiseswearswear to the factpledge

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  3. www.investopedia.com › terms › bWhat Is a Bank Guarantee? How They Work, Types, and Example

    Feb 23, 2024 · A bank guarantee is a financial backstop offered by a financial institution promising to cover a financial obligation if one party in a transaction fails to hold up their end of a contract.

  4. dictionary.cambridge.org › english › guaranteeGUARANTEE | English meaning - Cambridge Dictionary

    a formal agreement to take responsibility for something, such as the payment of someone else's debt. [ C ] something valuable that you give to someone temporarily while you do what you promised to do for them, and that they will keep if you fail to do it. Fewer examples. Your new TV comes with a two year guarantee as standard.

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  6. www.investopedia.com › terms › fFinancial Guarantee: Definition, Forms, Types, and Example

    Jul 1, 2021 · A financial guarantee is an agreement that guarantees a debt will be repaid to a lender by another party if the borrower defaults. Essentially, a third party...

    • Julia Kagan

  7. cleartax.in › s › bank-guaranteeBank Guarantee : Uses, Eligibility & Process, Advantages

    Jun 6, 2024 · Bank guarantee is a security offered by a bank to cover losses in case of default on a loan; it is widely used to facilitate business transactions. The guarantee reduces financial risks, helps gain credibility, but can involve stringent assessments. There are two main types: financial guarantee and performance guarantee.

  8. corporatefinanceinstitute.com › guaranteeGuarantee - Overview, Corporate vs. Personal Guarantees

    A guarantee is a legally binding agreement signed by a guarantor, on behalf of a borrower. It guarantees that, should the borrower trigger an event of default that cannot be remedied, the guarantor will make the lender whole on its credit exposure.

  9. en.wikipedia.org › wiki › GuaranteeGuarantee - Wikipedia

    In English law, a guarantee is a contract whereby the person (the guarantor) enters into an agreement to pay a debt, or effect the performance of some duty by a third person who is primarily liable for that payment or performance.

  10. www.merriam-webster.com › dictionary › guaranteeGuarantee Definition & Meaning - Merriam-Webster

    4 days ago · : an agreement by which one person undertakes to secure another in the possession or enjoyment of something. b. : an assurance of the quality of or of the length of use to be expected from a product offered for sale often with a promise of reimbursement. The washer comes with a guarantee against major defects. 4. : guaranty sense 4. guarantee.