LEASED BACK GUARANTEE
\lˈiːsd bˈak ɡˌaɹantˈiː], \lˈiːsd bˈak ɡˌaɹantˈiː], \l_ˈiː_s_d b_ˈa_k ɡ_ˌa_ɹ_a_n_t_ˈiː]\
Sort: Oldest first
-
A bank's guarantee given to a third party for a fee. The bank does its due diligence to confirm the creditworthiness of the customer receiving the bank guarantee. The issuing bank becomes the borrower's backer for borrower debts up to the guarantee amount when the borrower is approved.
By Henry Campbell Black
