performance guarantee
noun[C]
ukusCOMMERCE
→guaranteenoun:
Thisproductcomes with a one-yearperformanceguarantee.
FINANCE
apromisethat aninvestmentwill make at least aparticularamountofprofit:
performance guarantee for sthThecompanywillofferaperformanceguaranteefor 92% of thestatedperformancecapacityfor the first 12years.
FINANCE
aformalagreementtopayback aloanif someoneelsedoes not:
One way in whichprotectioncan beobtainedis bymeansof aperformanceguaranteegivenby a thirdpartyguarantor.