A guarantee is a promise that something will be performed in a certain manner or an item will fulfill certain expectations. Guarantees are usually formal, written pledges that an item purchased is in good working order and will remain so for a reasonable amount of time, or a service rendered was done in a professional, competent manner that assures a specific outcome. Guarantee may also be used as a verb to mean the act of promising that something will be performed in a certain manner or an item will fulfill certain expectations. Related words are guarantees, guaranteed, guaranteeing.
Guaranty is an obsolete form of the word guarantee, it is now mostly used as a noun in financial and legal documents to refer to something that is offered as security that an action will occur. For example, an engagement ring is a guaranty that a marriage will occur. In a legal sense, the words guaranty and guarantor are interchangeable, in other circumstances guarantor refers to one who professes a guarantee. The plural of guaranty is guaranties.
Spain’s Abengoa, facing a cash crunch in the next week, is negotiating a multi-million euro lifeline with creditor banks which have asked the company to guarantee with new assets, sources familiar with the talks said on Monday. (Reuters)
Expedia’s Best Price Guarantee, like most others, looks like a great deal — until you read the fine print. (The Chicago Tribune)
Here are five job-search mistakes that will virtually guarantee you won’t get the job, or even a second glance from employers. (Forbes)
The police department is a paramilitary organization and the Reno City Council should consider how Jason Soto has performed, not whether he meets some artificial standard which has no guarantee of success as a leader. (The Reno Gazette-Journal)
FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies. (Dakota Financial News)