guaranty


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guaranty (gar´əntē),

n a contract that some certain and designated thing shall be done exactly as it is agreed to be done.
References in periodicals archive ?
Could the failure of one health insurer somehow lead to a series of failures, by exposing solvent but shaky insurers to big guaranty association assessment bills at the worst possible time?
Promptly following the holding company merger, Guaranty expects to merge the subsidiary bank under the charter of Guaranty Bank and Trust with combined assets of both institutions of approximately USD 1.
Guaranty said the closure cost it about $160,349 because the vehicles it had in inventory lost value.
We are pleased that Congress now has codified in federal law a role that USA Funds and many other guarantors have been performing for years," says Gregory Ayers, vice president of policy and compliance of the guaranty agency USA Funds.
Once the Good Guy Guaranty is complied with, the landlord looks only to the tenant for its future rent and other damages.
Still, the environment in which guaranty associations operate is in need of fine-tuning.
Evidently, the taxpayer may establish a business bad debt by showing that the guaranty was given to protect the taxpayer's status as an employee, source of income or business relationship or business reputation.
They show that, to qualify as a general guaranty and thus fall outside the restrictions on enforcement following assignment which are imposed upon special guaranties, the guaranty should contain language such as "heir or assigns" or "successors and assigns" following the name of the party to whom the guaranty is designed to benefit.
Since the government was assuming the risk anyway--and since the maze of banks and guaranty agencies had proven to be a nightmare of waste and abuse--why not lend money directly from the federal Treasury?
Bailenson, the Chief Financial Officer of Assured Guaranty, noted "While it is unfortunate to have to amend previously announced financial results, the adjustments will not affect Assured Guaranty's ability to perform under its financial guaranties, has no impact on cumulative operating income over the affected periods or on operating shareholders' equity or adjusted book value as of June 30, 2011, and will only reduce consolidated shareholders' equity by $36.
The guaranty specified that it was "an absolute and unconditional Guaranty of payment and performance.
For Guaranty Income Life, the need for a system to track death benefits claims wasn't new, but didn't become evident until not having such a system in place began impacting the company's bottom line.