performance guarantee
noun [ C ]
ukus COMMERCE
→ guarantee noun :
This product comes with a one-year performance guarantee.
FINANCE
a promise that an investment will make at least a particular amount of profit:
performance guarantee for sth The company will offer a performance guarantee for 92% of the stated performance capacity for the first 12 years.
FINANCE
a formal agreement to pay back a loan if someone else does not:
One way in which protection can be obtained is by means of a performance guarantee given by a third party guarantor.