guaranteed; guaranteeing 1 : to promise to answer for the debt, failure to perform, or faulty performance of another 2 : to promise that some condition holds or will be fulfilled guarantee a …

guarantee noun uk / ˌɡær. ə nˈtiː / us / ˌɡer. ə nˈtiː / B2 [ C or U ] a promise that something will be done or will happen, especially a written promise by a company to repair or change a product …

A guarantee is a promise or assurance, especially one that is written or legally binding, that something is of a stated quality or will perform as stated, such as a guarantee that a car you purchase will operate correctly. A guarantee is also an assurance of a particular outcome or condition, as in Weather predictions are not guarantees. Weather often changes quickly.

guarantee 1. (Commerce) a formal assurance, esp in writing, that a product, service, etc, will meet certain standards or... 2. (Law) law a promise, esp a collateral agreement, to answer for the debt, default, or miscarriage of another 3. (Commerce) a. a person, company, etc, to whom a guarantee is ...

09/12/2022 · 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.

guarantee verb [T] (PROMISE) If a product is guaranteed, the company that made it promises to repair or change it if a fault develops within a particular period of time: The fridge is guaranteed for three years. B2 to promise that something will happen or exist: [ + two objects ] European Airlines guarantees its customers top-quality service.

The term "guarantee" is defined by the Black Laws Dictionary as "the certainty that a legal contract will be duly enforced."A guarantee contract is regulated by Indian Contract Act, 1872, and comprises of 3 parties, including one who serves as the guarantor if the defendant fails to meet his obligations.

That is to say, guarantee means to stand for another person and in a contract of guarantee, the surety assures repayment of the loan on behalf of the one, who has taken the loan but failed to repay. Therefore, it aims at protecting the other party from suffering loss. Parties Involved in a Contract of Guarantee

22/03/2019 · Black laws dictionary defines the term guarantee as the assurance that a legal contract will be duly enforced. A contract of guarantee is governed by the Indian Contract Act,1872 and includes 3 parties in which one of the parties acts as the surety in case the defaulting party fails to fulfill his obligations.

17/03/2022 · A bank guarantee enables the customer (or debtor) to acquire goods, buy equipment, or draw down a loan. Key Takeaways A bank guarantee is when a lending institution promises to cover a loss if...