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English definition of “guarantee”

guarantee

noun
 
 
/ˌɡærənˈtiː/
[C or U] COMMERCE a written promise by a company to return a customer's money or repair or change the product if there is a problem within a particular period after buying it: The system costs £99.95 including postage, packing and a 12-month guarantee. I'm afraid we can't replace the television as it's no longer under guarantee.come with/have/carry a guarantee The laptop has a two-year guarantee.a guarantee on sth There is a six-month guarantee on all our vehicle repairs. The store offers money-back guarantees on all electronics.
[C] something that makes another thing sure to happen or to be true: no guarantee of sth/not a guarantee of sth Laboratory testing of a new drug is not a guarantee of safety.a guarantee that There is no guarantee that the discussions will lead to a deal.
[C] a promise from someone that something will be done or will happen: a guarantee that The CEO gave employees a guarantee that he would keep the factory open at all costs.
[C] BANKING something valuable that you offer to someone with the agreement that they can keep it if you fail to pay a loan or do what you promise: a guarantee against sth The mortgage borrower provides the house as a guarantee against the loan.
→ See also bank guarantee, bank guarantee fund, cheque guarantee card, company limited by guarantee, cross guarantee, debt guarantee, export credit guarantee, financial guarantee insurance, performance guarantee
(Definition of guarantee noun from the Cambridge Business English Dictionary © Cambridge University Press)
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