Guarantee glossaryGuarantee glossary

An international guarantee is a good way of providing security for your company when you do business abroad. It also strengthens your position when trying to win an international order or assignment. Some terms and expressions used may not be immediately familiar if you have not used guarantees before.

You can find an explanation of terms and expressions relating to guarantees in our glossary.​​​​

 

GlossaryGlossary

Guarantee term Explanation
Payment guarantee  See Types of guarantee 
Performance bond/guarantee See Types of guarantee 
Retention bond/guarantee
See Types of guarantee
Statement A simple declaration used in connection with claims under demand guarantees
Tender bond See Bid bond
URDG 758 The international guarantee rules. Uniform Rules for Demand Guarantees, ICC Publication No. 758
Unconditional guarantee See Demand guarantee
Undertaking Another word for guarantee

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