Guarantee define

Word Origin late 17th century (in the sense ‘guarantor’): perhaps from Spanish garante, corresponding to French garant (see warrant), later influenced by French garantie ‘guaranty’. Definition of guarantee. The washer comes with a guarantee against major defects. What is the legal definition of guarantee?

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It most commonly designates a private transaction by means of which one person, to obtain some trust, confidence or credit for another, engages to be answerable for him. English dictionary definition of guarantees. It has a one-year guarantee that covers parts and labor.

The bank had a guarantee in terms of their relationship between the actual property and the. The definition of a guarantee is a promise that something will happen. An example of guarantee is a document stating that a new barbecue grill will be repaired free of charge for the first two years after purchase.

Synonyms for guarantee at Thesaurus.

Find descriptive alternatives for guarantee. Though the usage of the word “guaranty” has become obsolete and is used as just a variant of the word “ guarantee. Guarantee ” is the noun whereas “guaranty” is the verb. Dictionary meanings of Guaranty “Guaranty” means “something given by someone to another person as a security.

In other words, if the debtor fails to settle a debt, the bank covers. Person means (a) any letter of credit, bankers acceptance, surety bon performance bon bank guarantee or other similar obligation issued for the account of such Person to support only trade payables or nonfinancial performance obligations of such Person, (b) any letter of credit, bankers acceptance, surety bon performance bon bank guarantee or other. The loan is quite often guaranteed by a government agency which will purchase the debt from the.

Talking about guarantees If a product is under guarantee , it is protected by a guarantee at that particular time. What does guarantee expression mean? The Government is guaranteeing that people who purchase water will now have a guarantee of repairs and spare parts. Entrepreneur Small Business Encyclopedia.

In bond issues, for example, the guarantor might only guarantee the repayment of interest or principal, but not both. Usually, the party receiving the guarantee will first try to collect or obtain performance from the debtor before trying to collect from the one making the guarantee (guarantor). Performance bond or other type of guarantee in which the guarantor effectively becomes a co-signatory to the underlying contract.

As per the dictionary definition ‘service guarantee ’ as define “an assurance of the quality of or length of use to be expected from product offered for sale, often with a promise of reimbursement.

A guarantee is a particular type of recovery tool. The assumption of responsibility for payment of a debt or performance of some obligation if the liable party fails to perform to expectations. Meaning of guarantee. Information and translations of guarantee in the most comprehensive dictionary definitions resource on the web.

It is a type of warranty that a bank provides individuals to provide loan, payment or services to start any business activity. This is a surety that is provided by a bank or a. A word that we commonly use that is one of the hardest words out of the dictionary to spell correctly. Most people just use spell check to fix it, but without it spelling this word right is frustrating. Constitution is popularly known as the guarantee clause.

Under this clause the federal government ensures for the states both a republican form of government and protection from invasion or internal insurrection. A bank guarantee is a promise from a bank or other lending institution that if a particular borrower defaults on a loan, the bank will cover the loss. Note that a bank guarantee is not the same as a letter of credit (see the differences between those two below). Typically, large producers command a high sum due to their brand that pulls in crowds into theatres.

A payment guarantee provides the beneficiary with financial security should the applicant fail to make payment for the goods or services supplied. Try it free for days.