Capped guarantee
A guarantee that limits the guarantor’s maximum liability to an agreed amount or defined category of sums.
Related terms
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Guarantee liability
The amount or obligation a guarantor may have to pay under the wording of a valid and enforceable guarantee.
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Personal guarantee claim
A creditor’s demand or legal claim against a guarantor for sums said to be due under a personal guarantee.
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Liability cap
A contractual limit on the maximum amount a party can be required to pay under a particular obligation, such as a guarantee.
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