guaranty
pronunciation
How to pronounce guaranty in British English:
UK ['gærəntɪ]
How to pronounce guaranty in American English:
US ['gærəntɪ]
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- Noun:
- a collateral agreement to answer for the debt of another in case that person defaults
Word Origin
- guaranty (n.)
- "act or fact of guaranteeing, a being answerable for the obligations of another," 1590s, garrantye, from earlier garant (see guarantee (n.)) with influence from Old French garantie "protection, defense; safeguard, warranty," originally past participle of garantir "to protect," from the same source. The sense of "pledge given as security" that developed 17c. in guarantee might reasonably have left the sense "act of guaranteeing" to this form of the word, but the forms remain confused.
Example
- 1. Liability when the mortgage guarantee and security of guaranty coexisting .
- 2. Both the unions and the pension guaranty corporation are bracing for a battle with clear political implications , since jobs and benefits are likely to feature prominently in this year 's presidential campaign .
- 3. While american has not said it intends to force the government to take over its pension plans , joshua gotbaum , director of the pension benefit guaranty corporation , said he was hoping to get out in front of any such move by the airline .
- 4. The same is true of the pension benefit guaranty corporation , which insures private sector benefits , but is already $ 14 billion in deficit .
- 5. But in america and britain there is surely implicit backing for the insurance funds ( respectively the pension benefit guaranty corporation and the pension protection fund ) that backstop the private sector 's schemes .