Up to the Amount of the Guarantee as Described above Form
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People also ask
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What does guaranty amount mean?
A guaranty can be thought as a collateral to a primary or principal obligation from the guarantor to perform. In a finance or lending context, a guarantor would be forced to answer for the debt or default of the debtor to the creditor, if a debtor does not fulfill an obligation on their part to repay their debt.
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What best describes a guarantee?
A guarantee, on the other hand, is a promise or assurance from the manufacturer or seller that the product will work as described or meet specific quality standards. If it doesn't, the manufacturer will fix or replace it. Guarantees are of no cost to the buyer and can be offered for both products and services.
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What is the meaning of total guarantee?
Total Guarantee means a guarantee by Total S.A., organized under the laws of France, in favor of the Collateral Agent (acting for the benefit of the Secured Parties), substantially in the form of Exhibit BB or other form acceptable to DOE.
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How do you use guarantee as a verb in a sentence?
We cannot guarantee (that) our flights will never be delayed. guarantee somebody something The ticket will guarantee you free entry. guarantee to do something We guarantee to deliver your order within a week.
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What does it mean to guarantee payment?
Payment guarantees are financial commitments that require the debtor to make a repayment based on the terms outlined in the original debt agreement. Sometimes, the payment guarantee is backed with some form of collateral, such as property.
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What do you mean by guarantee?
a. : an agreement by which one person undertakes to secure another in the possession or enjoyment of something. b. : an assurance of the quality of or of the length of use to be expected from a product offered for sale often with a promise of reimbursement. The washer comes with a guarantee against major defects.
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What are the three types of guarantees?
Traditionally, a distinction is made between: Real guarantees relating to assets having an intrinsic value. Personal guarantees involving a debt obligation for one or more people. Moral guarantees that do not provide the lender with any real legal security.
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What does amount of guarantee mean?
Guarantee Amount means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority.
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