Guarantees definition: Copy, customize, and use instantly
Introduction
The term "Guarantees" refers to a formal promise or assurance made by one party (the guarantor) to fulfill the obligations or pay the debts of another party (the principal) in case they fail to do so. Guarantees are often used in contracts to reduce the risk for one party by ensuring that another party will take responsibility for fulfilling certain commitments. A guarantee can be used in various situations, such as securing a loan or ensuring performance under a contract.
Below are various examples of how "Guarantees" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Guarantees" as a formal promise made by one party to cover the obligations or debts of another party if they fail to fulfill them, often used in financing or contractual agreements.
This definition connects "Guarantees" to covering obligations or debts in case of failure.
"Guarantees" means a formal promise made by one party to cover the obligations or debts of another party if they fail to fulfill them, often used in financing or contractual agreements.
Definition of "Guarantees" as a binding commitment by a party to assume responsibility for the debt, performance, or obligations of another party if that party defaults or fails to meet their obligations.
This definition ties "Guarantees" to assuming responsibility for debt or performance in case of default.
"Guarantees" refers to a binding commitment by a party to assume responsibility for the debt, performance, or obligations of another party if that party defaults or fails to meet their obligations.
Definition of "Guarantees" as a contractual assurance by one party to ensure that certain obligations, such as payments or deliverables, will be fulfilled, even if the other party fails to do so.
This definition connects "Guarantees" to ensuring obligations are fulfilled, even in case of non-performance.
"Guarantees" means a contractual assurance by one party to ensure that certain obligations, such as payments or deliverables, will be fulfilled, even if the other party fails to do so.
Definition of "Guarantees" as a form of security in contracts, where one party agrees to take responsibility for the obligations of another party if they are unable to perform as per the terms of the agreement.
This definition ties "Guarantees" to securing contracts by taking responsibility for non-performance.
"Guarantees" refers to a form of security in contracts, where one party agrees to take responsibility for the obligations of another party if they are unable to perform as per the terms of the agreement.
Definition of "Guarantees" as a legally enforceable promise made by a third party to ensure the repayment of a loan or fulfillment of a contract if the original party defaults on the terms of the agreement.
This definition connects "Guarantees" to ensuring loan repayment or contract fulfillment.
"Guarantees" means a legally enforceable promise made by a third party to ensure the repayment of a loan or fulfillment of a contract if the original party defaults on the terms of the agreement.
Definition of "Guarantees" as an assurance, typically provided by a third party, that a certain obligation or payment will be met, even if the primary party fails to meet its commitments.
This definition ties "Guarantees" to assuring that an obligation or payment will be met, even in failure.
"Guarantees" refers to an assurance, typically provided by a third party, that a certain obligation or payment will be met, even if the primary party fails to meet its commitments.
Definition of "Guarantees" as a promise made by a party to cover the financial obligations or liabilities of another party if they default, often included in loan agreements, contracts, or service agreements.
This definition connects "Guarantees" to covering financial obligations in the event of default.
"Guarantees" means a promise made by a party to cover the financial obligations or liabilities of another party if they default, often included in loan agreements, contracts, or service agreements.
Definition of "Guarantees" as a contractual obligation wherein one party agrees to be liable for the debts, actions, or inactions of another party in case of default or failure to perform as agreed.
This definition ties "Guarantees" to assuming liability for another party’s debts or actions.
"Guarantees" refers to a contractual obligation wherein one party agrees to be liable for the debts, actions, or inactions of another party in case of default or failure to perform as agreed.
Definition of "Guarantees" as a promise, usually backed by collateral, that ensures a party’s obligations will be fulfilled, even if the original party fails to meet their commitments.
This definition connects "Guarantees" to fulfilling obligations with the promise backed by collateral.
"Guarantees" means a promise, usually backed by collateral, that ensures a party’s obligations will be fulfilled, even if the original party fails to meet their commitments.
Definition of "Guarantees" as an agreement in which one party agrees to bear the risk or costs of another party’s failure to meet specific performance or financial commitments in a contract.
This definition ties "Guarantees" to bearing the risk or costs of another party’s failure.
"Guarantees" refers to an agreement in which one party agrees to bear the risk or costs of another party’s failure to meet specific performance or financial commitments in a contract.
Definition of "Guarantees" as a formal pledge that ensures the fulfillment of obligations under a contract or loan, typically provided by a third-party guarantor.
This definition connects "Guarantees" to ensuring the fulfillment of obligations with a third-party guarantor.
"Guarantees" means a formal pledge that ensures the fulfillment of obligations under a contract or loan, typically provided by a third-party guarantor.
Definition of "Guarantees" as a commitment by one party to make good on the obligations of another, commonly used in loan agreements, service contracts, or business partnerships to reduce risk.
This definition ties "Guarantees" to reducing risk in business agreements.
"Guarantees" refers to a commitment by one party to make good on the obligations of another, commonly used in loan agreements, service contracts, or business partnerships to reduce risk.
Definition of "Guarantees" as a contractual commitment by a third party to cover the obligations of the primary party in case of default, commonly used in financing or contractual relationships.
This definition connects "Guarantees" to a third-party commitment in case of default.
"Guarantees" means a contractual commitment by a third party to cover the obligations of the primary party in case of default, commonly used in financing or contractual relationships.
Definition of "Guarantees" as a statement or contract ensuring that a party will meet their obligations, and if they fail to do so, the guarantor will step in to meet the obligations on their behalf.
This definition ties "Guarantees" to ensuring obligations will be met, with a guarantor stepping in if needed.
"Guarantees" refers to a statement or contract ensuring that a party will meet their obligations, and if they fail to do so, the guarantor will step in to meet the obligations on their behalf.
Definition of "Guarantees" as a legal contract in which one party agrees to be responsible for the debt or obligations of another party in case they fail to pay or perform as promised.
This definition connects "Guarantees" to assuming responsibility for another party's debt or obligations.
"Guarantees" means a legal contract in which one party agrees to be responsible for the debt or obligations of another party in case they fail to pay or perform as promised.
Definition of "Guarantees" as an agreement wherein a third party, the guarantor, agrees to assume responsibility for fulfilling the obligations of a primary party if that party defaults on their duties.
This definition ties "Guarantees" to a third party assuming responsibility in case of default.
"Guarantees" refers to an agreement wherein a third party, the guarantor, agrees to assume responsibility for fulfilling the obligations of a primary party if that party defaults on their duties.
Definition of "Guarantees" as a formal contract that obligates one party to fulfill the debt or contractual obligations of another in the event of failure or non-performance by the primary party.
This definition connects "Guarantees" to a formal obligation to fulfill the debt or obligations in case of non-performance.
"Guarantees" means a formal contract that obligates one party to fulfill the debt or contractual obligations of another in the event of failure or non-performance by the primary party.
Definition of "Guarantees" as an assurance, typically in a legal context, that one party will fulfill the obligations of another if they fail to do so, often associated with financial agreements or service contracts.
This definition ties "Guarantees" to assuring fulfillment of obligations in legal contexts.
"Guarantees" refers to an assurance, typically in a legal context, that one party will fulfill the obligations of another if they fail to do so, often associated with financial agreements or service contracts.
Definition of "Guarantees" as a promise by a third party to take on responsibility for a debt or obligation if the primary party fails to fulfill their contractual duties.
This definition connects "Guarantees" to taking on responsibility for another party’s obligations.
"Guarantees" means a promise by a third party to take on responsibility for a debt or obligation if the primary party fails to fulfill their contractual duties.
Definition of "Guarantees" as an assurance made by a party to secure the fulfillment of another party's obligations, with the guarantee coming into effect if the first party defaults.
This definition ties "Guarantees" to ensuring obligations are fulfilled through an assurance.
"Guarantees" refers to an assurance made by a party to secure the fulfillment of another party's obligations, with the guarantee coming into effect if the first party defaults.
Definition of "Guarantees" as a legal assurance provided by one party, promising to cover the financial obligations or liabilities of another party if that party defaults or fails to meet contractual terms.
This definition connects "Guarantees" to covering financial obligations in case of default.
"Guarantees" means a legal assurance provided by one party, promising to cover the financial obligations or liabilities of another party if that party defaults or fails to meet contractual terms.
Definition of "Guarantees" as a legally binding promise, often in writing, made by one party (the guarantor) to assume responsibility for the obligations of another party in case of default or non-performance.
This definition ties "Guarantees" to a legally binding promise made by the guarantor.
"Guarantees" refers to a legally binding promise, often in writing, made by one party (the guarantor) to assume responsibility for the obligations of another party in case of default or non-performance.
Definition of "Guarantees" as a contractual commitment by one party to cover the liabilities or obligations of another party, usually upon the occurrence of a specific event, such as default.
This definition connects "Guarantees" to covering liabilities or obligations based on specific events.
"Guarantees" means a contractual commitment by one party to cover the liabilities or obligations of another party, usually upon the occurrence of a specific event, such as default.
Definition of "Guarantees" as a promise, often legally documented, that one party will fulfill the contractual obligations of another in the event of failure to perform.
This definition ties "Guarantees" to fulfilling contractual obligations in case of failure to perform.
"Guarantees" refers to a promise, often legally documented, that one party will fulfill the contractual obligations of another in the event of failure to perform.
Definition of "Guarantees" as an assurance made by a party, often including financial backing, that an obligation, debt, or contract will be satisfied even if the responsible party fails to do so.
This definition connects "Guarantees" to financial backing and ensuring satisfaction of an obligation.
"Guarantees" means an assurance made by a party, often including financial backing, that an obligation, debt, or contract will be satisfied even if the responsible party fails to do so.
Definition of "Guarantees" as a third-party promise to step in and fulfill the obligations of another party in the event of non-compliance or failure to meet contractual terms.
This definition ties "Guarantees" to a third-party promise to ensure compliance.
"Guarantees" refers to a third-party promise to step in and fulfill the obligations of another party in the event of non-compliance or failure to meet contractual terms.
Definition of "Guarantees" as a formal and legally enforceable assurance, often provided by a bank or institution, to cover the responsibilities of another party under specific conditions or terms.
This definition connects "Guarantees" to being formal and enforceable, often by an institution.
"Guarantees" means a formal and legally enforceable assurance, often provided by a bank or institution, to cover the responsibilities of another party under specific conditions or terms.
Definition of "Guarantees" as an agreement in which one party agrees to ensure that the obligations of another party will be met, including taking responsibility for payment or other contractual duties if necessary.
This definition ties "Guarantees" to ensuring the fulfillment of obligations, including payment.
"Guarantees" refers to an agreement in which one party agrees to ensure that the obligations of another party will be met, including taking responsibility for payment or other contractual duties if necessary.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.