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Guaranty |
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GuarantyAgreement to pay the debt or perform the obligation of another in the event the debt is not paid or obligation not performed. Differs from a surety agreement in that there must be a failure to pay or perform before the guaranty can be in effect.Guaranty Similar MatchesPension Benefit Guaranty Corporation (PBGC)Pension Benefit Guaranty Corporation (PBGC)A federal agency that insures the vested benefits of pension plan participants (established in 1974 by the ERISA legislation). Pension Benefit Guaranty CorporationPension Benefit Guaranty CorporationIn the US, a federal corporation, set up in conjunction with the Employee Retirement Income Security Act (ERISA) of 1974, to guarantee basic benefits to participants in pension plans which are underfunded. |
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