bank guarantee

Definition

A type of guarantee in which a bank or other lending organization promises to repay the liabilities of a debtor in the event that the debtor is unable to.

Use bank guarantee in a sentence

You may want to try and get a bank guarantee so that the other party will be more comfortable with the deal.

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The bank guarantee will provide confidence for a firm to seal the deal because the loan is guaranteed even if the debtor fails to repay.

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The deal was being negotiated as there were some risk concerns, fortunately the businessman suggested a bank guarantee to solve the problem.

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non-security certified check