The assumption of an obligation to indemnify, primarily in the sense in which this is regulated in Section 443 of the German Civil Code (BGB) as a guarantee of quality and durability. – In the financial market, the promise by a bank or the state to vouch for any future damage or future success. The guarantee, unlike the surety agreement, is not regulated by law. – It should be noted that a guarantee in this sense does not give rise to any obligations that must be fulfilled with priority, as would be the case with a loan. However, the amount of the claims may be unknown for the warrantor. – See off-balance sheet business, accommodation, guarantee, credit enhancement, redemption, del credere, guarantee business, government guaranteed bonds, credit commitment, irrevocable, letter of comfort, shadow debt. – Cf. Deutsche Bundesbank Monthly Report of May 2010, p. 12 f. (on guarantees in the course of the European Stabilization Mechanism).
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