What is the synonym of guarantee?

certify, testify (to), vouch (for), witness.

What is guarantee in simple words?

1 : to make a promise about the condition or occurrence of something guarantee a car. 2 : to promise to be responsible for the debt or duty of another person I’ll guarantee his loan. guarantee. noun. guar·​an·​tee | \ ˌgar-ən-ˈtē, ˌgär- \

What is the antonym guarantee?

Antonyms. boycott invalidate disprove disagree take inactivity unmask.

What type of word is guarantee?

guarantee. / (ˌɡærənˈtiː) / noun. a formal assurance, esp in writing, that a product, service, etc, will meet certain standards or specifications.

What is special guarantee?

: a guaranty made to a specific person and enforceable only by that person.

Does guarantee mean to make sure?

to make something sure to happen or to be true: Good design does not always guarantee success.

What is a guarantee in finance?

A guarantee is a contractual undertaking where one party assumes responsibility for the debt, or performance obligations, of another party should that other party default in some way – for example, where the Commonwealth guarantees repayment of borrowings by a Commonwealth or other entity in favour of a third party.

Who is a guarantee and guarantor?

A guarantee is a promise by one party (the guarantor) to another party (the guaranteed party) to be responsible for the due performance of the obligations of another party (the principal) to the guaranteed party if the principal fails to perform such obligations.

What is the difference between guarantee and Guaranty?

The Difference Is in the Definition

Companies make written or verbal guarantees all the time, but guaranty refers specifically to a written agreement that one party will pay the money required if another party fails to do so.

What is a guarantee policy?

Guarantee insurance is used as security for the performance of a piece of work, which has been agreed upon in a contract. It is also used as security for advance payments or payments on account for services agreed upon in a contract.

Why is a guarantee important?

A guarantee serves as additional protection in a loan, making a loan more attractive to potential lenders. The lenders are more willing to provide guaranteed loans even to candidates with a poor credit profile, as the presence of a guarantor diminishes the probability of a lender of not being repaid.

What does a guarantee mean in business?

Key Takeaways. A business guarantee is a commitment made by a business to honor the debts incurred under its company credit cards. It is similar to the personal guarantees extended by individual cardholders.

What is guarantee claim?

Guarantee Claim means a Claim against a Debtor arising pursuant to a guarantee of the obligations of any Obligor Debtor valid under applicable law.

What happens when a guarantee is called?

In the same way, a guarantee produces a legal effect wherein one party affirms the promise of another (usually to pay) by promising to themselves pay if default occurs. At law, the giver of a guarantee is called the surety or the “guarantor”.

Can a company give a guarantee?

A guarantee can be provided by an individual, company or another type of corporate entity.

Does a guarantee have to be in writing?

A guarantee is a contract and such instruments must be in writing by virtue of the Statue of Frauds Act 1677. If the guarantee is drafted as a contract then there is a requirement to evidence consideration (for example “in consideration of providing credit to the borrower”).

How long is a product guaranteed for?

Generally, a warranty will last for 12 months to two years, although in relation to more expensive goods, it may last longer.