单词 | guarantee |
释义 | guarantee 1) See: 2) A promise made by a third party (guarantor), who is not a party to a contract between two others, that the guarantor will be liable if one of the parties fails to fulfil the contractual obligations. For example, a bank may make a loan to a person, provided that a guarantor is prepared to repay the loan if the borrower fails to do so. The banker may require the guarantor to provide some security to support the guarantee. See also: |
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