guarantee; warranty; insurance policy
Meanings
3 senses · 8 examplesnoun
guarantee slip; letter of guarantee
formalA formal written promise, often used in financial, legal, or performance contexts to ensure someone fulfills an obligation.
The bank required him to provide a payment guarantee.
This bid bond guarantees the contractor will fulfill the contract.
noun
warranty card; repair receipt
A document provided with a product or service that promises free repair or replacement if it fails within a specified period.
Please keep your phone warranty safe for free repairs.
The warranty period for this computer is three years.
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After repairing the watch, the shop will give you a repair receipt.
noun
insurance policy
A contract between an insurer and a policyholder detailing the terms, coverage, and premiums of an insurance agreement.
The beneficiary of his life insurance policy is his wife.
It's important to read the terms on your car insurance policy carefully.
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I need to buy a property insurance policy for my new house.