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DictionaryguarantyFormal assurance
noun

guaranty

gair-un-TEE/ɡˌɛrʌntˈi/

A formal assurance that an obligation will be fulfilled or paid.

The sealed agreement provides a guaranty that the promised chair will be delivered.

At a modern agreement table, a South Asian female craft-business owner and a white male customer clasp hands over a plain sealed contract, with a finished wooden chair representing the promised delivery.
Etymology
guarantyOld Frenchprotection; warranty

Old French garantie, meaning protection or warranty, helped shape this word for being answerable for another’s obligations. That protective assurance is expressed in the formal pledge called a guaranty.

In context

Audiopedia0:00
In finance, a surety, surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults.
Surety

More examples

  • Her written guaranty covers any unpaid rent.
  • The contractor provides a guaranty that the work will be completed.
  • Both owners sign guaranties for the company's debts.

Forms

guaranty · guaranties

guarantor noun — Someone who promises to fulfill another's obligations.

Similar words

guarantee
The more common term for an assurance of fulfillment.
assurance
Broader term for a promise intended to inspire confidence.