MLchartDataset catalogue

Guaranty agreement

Term · Insurance and risk management · MLC-T-INS-001694

A contractual promise by one party to be responsible for the debt, default, or performance of another party. In insurance, this often involves a third party guaranteeing the obligations of an insured or another insurer. Such agreements are common in surety bonds, where the surety guarantees the performance of a principal to an obligee.

Table 1. Record
IdentifierMLC-T-INS-001694
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001694",
  "term": "Guaranty agreement",
  "field": "Insurance and risk management",
  "definition": "A contractual promise by one party to be responsible for the debt, default, or performance of another party. In insurance, this often involves a third party guaranteeing the obligations of an insured or another insurer. Such agreements are common in surety bonds, where the surety guarantees the performance of a principal to an obligee.",
  "url": "https://mlchart.com/terminology/insurance/guaranty-agreement/"
}

Record 1,615 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.