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performance guarantee UK US noun [C]
► COMMERCE GUARANTEE(Cf. ↑guarantee) noun: »
This product comes with a one-year performance guarantee.
► FINANCE a promise that an investment will make at least a particular amount of profit: performance guarantee for sth »
The company will offer a performance guarantee for 92% of the stated performance capacity for the first 12 years.
► FINANCE a formal agreement to pay back a loan if someone else does not: »
One way in which protection can be obtained is by means of a performance guarantee given by a third party guarantor.
Financial and business terms. 2012.