bank guarantee
noun[C]
ukusBANKING,FINANCE
anagreementmade by abankor otherfinancialorganizationtopayadebtif thepersonorcompanywhoowesthemoneycannotpay:
Abankguaranteegives youextraauthoritywhendealingwithsuppliers, and mayallowyou toavoidhaving topayasubstantialdeposit.