Dictionary Definition
guarantee
Noun
1 a written assurance that some product or
service will be provided or will meet certain specifications [syn:
warrant, warrantee, warranty]
2 a pledge that something will happen or that
something is true; "there is no guarantee that they are not
lying"
3 a collateral agreement to answer for the debt
of another in case that person defaults [syn: guaranty]
Verb
1 give surety or assume responsibility; "I vouch
for the quality of my products" [syn: vouch]
2 make certain of; "This nest egg will ensure a
nice retirement for us"; "Preparation will guarantee success!"
[syn: ensure, insure, assure, secure]
3 promise to do or accomplish; "guarantee to free
the prisoners" [syn: undertake]
4 stand behind and guarantee the quality,
accuracy, or condition of; "The dealer warrants all the cars he
sells"; "I warrant this information" [syn: warrant]
User Contributed Dictionary
English
Pronunciation
Noun
Translations
anything that assures a certain outcome
- Czech: záruka
- Danish: garanti
- German: Garantie
- Slovene: zagotovilo
a written declaration
a person who gives such a guarantee
- Czech: ručitel
- Danish: garant
- German: Garant
- Kurdish: garantîker, temînatker, garantor
Verb
- To assure that something will get done right.
- To assume responsibility for a debt.
- To make something certain.
- The long sunny days guarantee a good crop.
Translations
to assure that something will get done right
- Czech: ručit
- Danish: garantere
- Dutch: garanderen
- Finnish: taata
- French: garantir
- German: garantieren, versichern
- Hungarian: garantál, biztosít
- Kurdish: temîn kirin, misoger kirin, garantî kirin
- Slovene: zagotoviti, zagotavljati
- Spanish: garantizar
- Swedish: garantera
to assume responsibility for a debt
- Czech: ručit
- Danish: garantere, kautionere
- Kurdish: temîn kirin, misoger kirin, garantî kirin
to make something certain
- Danish: garantere, sikre
- German: garantieren
- Kurdish: temîn kirin, misoger kirin, garantî kirin
- Slovene: zagotoviti, zagotavljati
See also
Extensive Definition
A surety is a person who agrees to be responsible
for the debt or obligation
of another. Additionally, the situation in which a surety is most
typically required is when the ability of the primary obligor or
principal
to perform its obligations under a contract is in question, or
when there is some public or private interest which requires
protection from the consequences of the principal's default or
delinquency. In most common law
jurisdictions, a contract of suretyship is subject to the statute
of frauds (or its equivalent local laws) and is only
enforceable if recorded in writing and signed by the surety and the
principal.
If the surety is required to pay or perform due
to the principal's failure to do so, the law will usually give the
surety a right of subrogation, allowing the
surety to "step into the shoes of" the principal and use his
contractual rights to recover the cost of making payment or
performing on the principal's behalf, even in the absence of an
express agreement to that effect between the surety and the
principal.
The act of becoming a surety is also called a
guarantee. Traditionally a guarantee was distinguished from a
surety in that the surety's liability was joint and primary with
the principal, whereas the guaranty's liability was ancillary and
derivative, but many jurisdictions have abolished this
distinction.
In the United States, under Article 3 of the
Uniform
Commercial Code, a person who signs a negotiable
instrument as a surety is termed an accommodation party; such a
party may be able to assert defenses to the enforcement of an
instrument not available to the maker of the instrument.
guarantee in German: Bürgschaft
guarantee in Swedish: garant
guarantee in Turkish: Kefalet
External links
- The Surety & Fidelity Association of America - An association with databases for surety bond forms and risk analysis.
- Surety Bond Articles - From general to specific surety bond information.
- The National Association of Surety Bond Producers - NASBP is the association of and resource for surety bond producers.
Synonyms, Antonyms and Related Words
Bible oath, and candle, arm, armor, assert under oath, assurance, assure, attest, avouch, avouchment, avow, back, bail, bailsman, be sponsor for,
bless, bond, bondsman, book, certify, champion, cloak, compass about, confirm, copyright, countersecure, countersign, cover, cushion, defend, depone, depose, earnest, endorse, ensure, extrajudicial oath,
faith, fence, fend, godfather, godparent, guarantor, guaranty, guard, harbor, haven, indemnity, insurance, insure, insurer, ironclad oath, judicial
oath, keep, keep from harm,
kiss the book, loyalty oath, mainpernor, make a promise,
make certain, make safe, make sure, mortgagor, nestle, oath, oath of allegiance, oath of
office, obligation,
official oath, parole,
patent, pledge, plight, police, promise, protect, register, ride shotgun for,
safeguard, screen, secure, security, shelter, shield, shroud, sign, sign for, solemn declaration,
solemn oath, sponsor,
stand behind, stand up for, stocks and bonds, subscribe to,
surety, swear, swear by bell, swear the
truth, swear to, swear to God, swear to goodness, test oath,
testify, tie, token, troth, undersign, undertake, undertaking, underwrite, underwriter, vouch, vouch for, vow, warrant, warrantor, warranty, word, word of
honor