No specific phraseology is required for the form of a warranty. What distinguishes an insurance guarantee is not a difference between the words “insurance” and “guarantee” but the content of the contract entered into by the parties.  These guarantees are part of the EU`s investment plan for third countries, which mobilises more than 50 billion euros of public and private investment under the EDF for sustainable development in the EU`s neighbouring countries and Africa. The status also does not apply to a credere agent`s commitment not to make sales on behalf of his principal, except to persons who are absolutely solvent and makes the agent liable for losses that may result from non-compliance with his or her commitment. The promise to give a guarantee is within the status, but not one, to obtain a guarantee. The general principles that determine what is guaranteed in the Fraud Act are: (1) The primary responsibility of a third party must exist or be taken into account;  (2) the undertaking must be given to the creditor; 3. The guarantee cannot be held liable regardless of an explicit guarantee commitment; 4. The main objective of the parties to the guarantee must be to respect the commitment of a third party;  and (5) The contract concluded should not be reduced to a sale of the creditor to the guarantor of the guarantee of a debt or the debt itself The guarantee is a more binding and binding clause than a “guarantee” or “guarantee”. It most often refers to a private transaction where a person is required to be responsible for trusting, trusting or credit for another. It may also designate a contract that guarantees rights, rights or property.
It must be distinguished from the familiar “personal guarantee” because a guarantee is a legal term that has an economic effect. On the other hand, a personal guarantee is often used to refer to a promise made by a person supported or assured by the word of the individual. Similarly, a guarantee produces a legal effect in which one party confirms the promise of another party (usually to pay) by promising to pay in the event of default.