guarantee


guarantee
See guaranty. American Banker Glossary
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The assumption of responsibility for payment of a debt or performance of some obligation if the liable party fails to perform to expectations. Bloomberg Financial Dictionary
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Financial security required for some warehouse premises and all movements of duty suspended excise goods from an excise warehouse. Administered by the Financial Securities Centre ( FSC). HM Customs & Revenue Glossary

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I. guarantee guar‧an‧tee 1 [ˌgærənˈtiː] verb [transitive]
1. to make a formal written promise to repair or replace a product if it has a fault within a specific period of time after you buy it:
guarantee something against something

• The car's galvanized bodyshell is guaranteed a full ten years against corrosion.

2. LAW FINANCE to make a legal promise to repay a loan if the original borrower default S (= fails to repay it or make interest payments on it ) :

• The loan will be guaranteed by Bangkok Bank.

  [m0] II. guarantee guarantee 2 noun [countable]
1. a formal written promise to repair or replace a product if it has a fault within a specific period of time after you buy it:
guarantee against

• For new home-owners, some builders have now given a 20-year guarantee against structural defects.

guarantee be under guarantee

• As the video camera was still under guarantee (= protected by a guarantee ) , he took it back to the shop to be repaired.

ˌmoney-back guaranˈtee
a promise to return the money paid for a product or service if the customer is not satisfied:

• Everything in the catalogue comes with a money-back guarantee.

perˈformance guaranˌtee
1. another name for guarantee:

• The engine is covered by a performance guarantee.

2. FINANCE in selling a property or other investment, a guarantee by the seller that the property etc will reach a minimum level of profitability:

• The sale of the ski resort is subject to performance guarantees that it will live up to expectations.

3. COMMERCE a contract between a supplier and a manufacturer that specifies conditions for the design and delivery of parts by the supplier:

• Micro Compact Car has performance guarantees with the component companies that are partners on the project.

2. FINANCE an agreement to be responsible for someone else's promise, especially a promise to repay a loan if the original borrower default S (= fails to repay it or make interest payments on it )
3. FINANCE BANKING money or assets held by an organization until someone has paid their debts, or debts that they might have in the future:

• creditor banks holding part of the airline's assets as guarantees of earlier debts

ˈbank guaranˌtee BANKING FINANCE
a promise by a bank to repay a loan if the original borrower default S:

• The bank guarantee for the loan was not put in place until days before the company purchased the site.

ˈcross guaranˌtee BANKING FINANCE
a guarantee given to a bank by several companies that are part of the same group of companies, when the bank lends money to one of the companies in the group
ˌexport ˈcredit guaranˌtee FINANCE
a promise by a government organization to an exporter that they will repay loans taken out to finance the goods being exported if the importer fails to pay for them:

• The 1990 farm law forbids the Agriculture Department from extending agricultural export credit guarantees to any country that can't adequately service the debt.

ˈloan guaranˌtee FINANCE BANKING
a promise to repay a loan if the original borrower default S:

• The Canadian government agreed to contribute $2.3 billion in cash and loan guarantees toward Hibernia's development costs.

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Ⅰ.
guarantee UK US /ˌgærənˈtiː/ verb [T]
to promise that something will happen or is true: guarantee sb sth »

European Airlines guarantees its customers top-quality service.

guarantee that sth is sth »

We guarantee that our products are 100% safe.

be guaranteed (to be) sth »

Their bread is guaranteed free of preservatives.

to make something sure to happen or to be true: »

Good design does not always guarantee success.

guarantee that »

How can we guarantee that no one can access our intranet?

COMMERCE if a company guarantees a product or service, it gives a written promise to return the customer's money or repair or exchange the product if there is a problem with it within a particular period: guarantee sth for sth »

We guarantee all our work for six months.

BANKING to offer something valuable to someone with the agreement that they can keep it if you fail to pay a loan or do what you promise: »

If you guarantee the loan, you will lose the business if you default on payments.

Ⅱ.
guarantee UK US /ˌgærənˈtiː/ noun
[C or U] COMMERCE a written promise by a company to return a customer's money or repair or change the product if there is a problem within a particular period after buying it: »

The system costs £99.95 including postage, packing and a 12-month guarantee.

»

I'm afraid we can't replace the television as it's no longer under guarantee.

come with/have/carry a guarantee »

The laptop has a two-year guarantee.

a guarantee on sth »

There is a six-month guarantee on all our vehicle repairs.

»

The store offers money-back guarantees on all electronics.

[C] something that makes another thing sure to happen or to be true: no guarantee of sth/not a guarantee of sth »

Laboratory testing of a new drug is not a guarantee of safety.

a guarantee that »

There is no guarantee that the discussions will lead to a deal.

[C] a promise from someone that something will be done or will happen: a guarantee that »

The CEO gave employees a guarantee that he would keep the factory open at all costs.

[C] BANKING something valuable that you offer to someone with the agreement that they can keep it if you fail to pay a loan or do what you promise: a guarantee against sth »

The mortgage borrower provides the house as a guarantee against the loan.

See also BANK GUARANTEE(Cf. bank guarantee), BANK GUARANTEE FUND(Cf. ↑bank guarantee fund), CHEQUE GUARANTEE CARD(Cf. ↑cheque guarantee card), COMPANY LIMITED BY GUARANTEE(Cf. ↑company limited by guarantee), CROSS GUARANTEE(Cf. ↑cross guarantee), DEBT GUARANTEE(Cf. ↑debt guarantee), EXPORT CREDIT GUARANTEE(Cf. ↑export credit guarantee), FINANCIAL GUARANTEE INSURANCE(Cf. ↑financial guarantee insurance), PERFORMANCE GUARANTEE(Cf. ↑performance guarantee)

Financial and business terms. 2012.

Synonyms:

Look at other dictionaries:

  • guarantee — gua·ran·tee /ˌgar ən tē, ˌgär / n [probably alteration of guaranty] 1: guarantor 2: guaranty (1) 3: an assurance that a condition will be fulfilled: as …   Law dictionary

  • guarantee — n Guarantee, guaranty, surety, security, bond, bail are comparable when they mean either something that is given or pledged as assurance of one s responsibility (as for the payment of a debt, the fulfillment of a promise or obligation, or the… …   New Dictionary of Synonyms

  • Guarantee — Guar an*tee , v. t. [imp. & p. p. {guaranteed}; p, pr. & vb. n. {Guaranteeing}.] [From {Guarantee}, n.] In law and common usage: to undertake or engage for the payment of (a debt) or the performance of (a duty) by another person; to undertake to… …   The Collaborative International Dictionary of English

  • guarantee — [gar΄ən tē′, gar′ən tē΄] n. [altered < GUARANTY, after words ending in EE1] 1. GUARANTY (n. 1 & 3) 2. a pledge or assurance; specif., a) a pledge that something is as represented and will be replaced if it does not meet specification …   English World dictionary

  • Guarantee — Guar an*tee , n.; pl. {Guarantees}. [For guaranty, prob. influenced by words like assignee, lessee, etc. See {Guaranty}, and cf. {Warrantee}.] 1. In law and common usage: A promise to answer for the payment of some debt, or the performance of… …   The Collaborative International Dictionary of English

  • guarantee — guarantee, guaranty The two words have close meanings relating to the fulfilment of a legal obligation. Guarantee is used for the verb, and also for the noun when the obligation relates to the quality of a product or service, whereas guaranty is… …   Modern English usage

  • guarantee — [n] pledge, promise agreement, assurance, attestation, bail, bargain, bond, certainty, certificate, certification, charter, collateral, contract, covenant, deposit, earnest, gage, guaranty, insurance, lock, oath, pawn, pipe, recognizance,… …   New thesaurus

  • guarantee — ► NOUN 1) a formal assurance that certain conditions will be fulfilled, especially that a product will be of a specified quality. 2) something that makes an outcome certain. 3) variant spelling of GUARANTY(Cf. ↑guaranty). 4) less common term for… …   English terms dictionary

  • guarantee */*/ — I UK [ˌɡærənˈtiː] / US [ˌɡerənˈtɪ] verb [transitive] Word forms guarantee : present tense I/you/we/they guarantee he/she/it guarantees present participle guaranteeing past tense guaranteed past participle guaranteed 1) to make it certain that… …   English dictionary

  • guarantee — guar|an|tee1 [ ,gerən ti ] noun count ** 1. ) something that makes it certain that something will happen: guarantee of: Massive investment is no guarantee of success. guarantee against: Being with you is my guarantee against them harming me.… …   Usage of the words and phrases in modern English


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