The definition of a guarantee is a promise that something will happen. An example of guarantee is a document stating that a new barbecue grill will be repaired free of charge for the first two years after purchase . To assume responsibility for the quality or performance of. ... I guarantee that you’ll like this book.
What is guarantee in simple words?
a promise or assurance, especially one in writing, that something is of specified quality, content, benefit, etc., or that it will perform satisfactorily for a given length of time: a money-back guarantee. ... a person who gives a guarantee or guaranty; guarantor . a person to whom a guarantee is made.
What do you mean by guarantee?
a : an agreement by which one person undertakes to secure another in the possession or enjoyment of something. b : an assurance of the quality of or of the length of use to be expected from a product offered for sale often with a promise of reimbursement The washer comes with a guarantee against major defects.
What is a service guarantee example?
A service guarantee is a promise by a company that it will perform at a certain level . If that level is not met, the company promises to compensate the customer in some way. For example, Radisson Hotels Worldwide offers the following guarantee: Our goal at Radisson is 100 percent guest satisfaction.
What best describes a guarantee?
which of the following best defines a guarantee? agreement that the manufacturer will be responsible for any defect in the product and will replace or repair a product that is defective .
Does guarantee mean 100%?
guarantee | Business English
to promise that something will happen or is true: guarantee sb sth European Airlines guarantees its customers top-quality service. guarantee that sth is sth We guarantee that our products are 100% safe.
Which is better guarantee or warranty?
A guarantee is comparatively less formal than a warranty . The term of the guarantee varies from item to item. Conversely, the warranty is for long term or any product or any part of the product. In the case of guarantee, money back is possible, if stated specifically, however, this is not possible in warranty.
What do u mean by bank guarantee?
What Is a Bank Guarantee? A bank guarantee is a type of financial backstop offered by a lending institution. The bank guarantee means that the lender will ensure that the liabilities of a debtor will be met . In other words, if the debtor fails to settle a debt, the bank will cover it.
What is difference between guarantee and Guaranty?
ANSWER: Guarantee, the broader and more common term, is both a verb and a noun . The narrower term, guaranty, today appears mostly in banking and other financial contexts; it seldom appears in nonlegal writing.
How does bank guarantee work with example?
How does it work? A Bank Guarantee is an undertaking by the Bank that payments to your customers and suppliers will be met , without tying up working capital. The Bank holds your cash or assets as security for the guarantee. You provide your supplier with the guarantee instead of cash.
How do you write a quality guarantee?
- A statement letting your potential customers know you believe in your product. ...
- Give the customer a fair time period to try the product. ...
- State what happens if the customer isn’t happy with the product. ...
- Finally, the most important elements of your guarantee are honesty and transparency.
What is a good quality product?
Good products must have a solid value proposition and solve a real problem , be understandable by users, perform their task as easily and efficiently as possible, and become better and harder to part with the more they are used.
What does 100% satisfaction guarantee mean?
❓ Should You Offer Satisfaction Guarantee? When a company offers a guarantee it shows they stand behind their product and believe customers will not get their money refunded. This is a clever way of showing that you believe the product works well and will leave customers 100% satisfied .
What can I say instead of guarantee?
- assure,
- cinch,
- ensure,
- guaranty,
- ice,
- insure,
- secure.
What is another name for guarantee?
In this page you can discover 78 synonyms, antonyms, idiomatic expressions, and related words for guarantee, like: declare , ensure, affirm, evince, wager, testify, evidence, assure, mortgage, give bond and attest.
What is the legal meaning of guarantee?
When used as a verb, to agree to pay another person’s debt or perform another person’s duty , if that person fails to come through. ... For example, if you cosign a loan, you have made a guaranty and will be legally responsible for the debt if the borrower fails to repay the money as promised.
