guarantee

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Related to Financial Guarantee: Financial guarantee insurance

guarantee

1. A legally enforceable assurance of the quality or duration of a product or of work, 1 performed.
2. A binding commitment by one person that another will perform his contract obligations satisfactorily.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.
References in periodicals archive ?
The future Directive aims to ensure maximum safety at facilities managing waste from mining activities: it provides that all installations should be subject to authorisation and controls and imposes a financial guarantee mechanism on operators to cover the rehabilitation of sites.
They have benefited from the temporary release system, which required the financial guarantee control to be enforced.
The backing of the financial guarantee enhances the credit profile of the proposed MTN beyond BerjayaCity's stand-alone credit risk.
* Instruments whose rights and obligations are conditional on events beyond the control of either party to the contract (for example, in a financial guarantee, the conditional event that could take place might be default on some other contract by a third party).

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