Guaranty

usgb/ˈɡærənˌti/
noun

A legal promise that something is done or that a certain obligation will be fulfilled.

The bank provided a guaranty for the loan.
Visual representation of "guaranty" - A legal promise that something is done or that a certain obligation will be fulfilled.

Usage tips

Formal

loan guaranty,performance guaranty,surety guaranty

Definition 1 of 2
Visual representation of "guaranty"
LampPro Tip 1/3

Understanding Legal Context

Be aware that 'guaranty' is often used in legal situations where written promises are essential.

Illustration for Understanding Legal Context
A guaranty for a loan is a legal document.
LampPro Tip 2/3

Formal vs. Informal Usage

Use 'guaranty' in formal documents, while 'guarantee' may be appropriate in casual conversation.

Illustration for Formal vs. Informal Usage
In contracts, only 'guaranty' applies.
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Implications of Non-fulfillment

A failure to meet the terms of a guaranty can have serious legal consequences.

Illustration for Implications of Non-fulfillment
Defaulting on a guaranty may lead to lawsuits.
Visual representation of the word "Guaranty"

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