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A guarantee is a form of transaction in which one person, to obtain some trust, confidence or credit for another, agrees to be answerable for them.
A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be ...
Express warranties are created when the seller makes a guarantee to the buyer that the product or service being offered has certain qualities. For there to exist an express warranty, a statement regarding the product or service must be made to the buyer and the statement must play a role in the buyer's decision to purchase the product or service.
A medallion signature guarantee is a binding warranty, issued by an agent of the authorized guarantor institution, that: (a) the signature was genuine; (b) the signer was an appropriate person to endorse, and (c) the signer had legal capacity to sign. A medallion signature guarantee is not equivalent to a US notarial Acknowledgment. [1]
Guaranteed vs. non-guaranteed loans The main difference between guaranteed and non-guaranteed loans comes down to qualifying for the loan. Specifically, a guaranteed mortgage loan means:
A personal guarantee is a promise made by a person or an organization (the guarantor) to accept responsibility for some other party's debt (the debtor) if the debtor fails to pay it. In the case of a personal guarantee made by an individual on behalf of another, the person who makes the personal guarantee is usually referred to as a co-signer ...
An immediate annuity is a financial product sold by insurance companies that allows you to convert a lump sum of money into a stream of guaranteed income payments.
A bank guarantee allows the customer, or debtor, to acquire goods, purchase equipment or draw down a loan. [1] A bank guarantee is a promise from a bank or other lending institution that if a particular borrower defaults, the bank will cover the loss. A bank guarantee is similar to, but not the same as a letter of credit. [2]