Guaranty

 

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Guaranty

Agreement 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 Matches

Pension 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 Corporation

Pension Benefit Guaranty Corporation

In 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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