Guarantee for Payment Sample Clauses
A Guarantee for Payment clause establishes that a third party, often called a guarantor, promises to fulfill the payment obligations of one party if that party fails to pay as agreed. This clause typically applies in situations where a lender or supplier requires additional assurance that they will receive payment, such as in commercial leases or loan agreements. By providing a financial backstop, the clause reduces the risk of non-payment and increases the creditor's confidence in extending credit or services.
Guarantee for Payment. You shall not be required first to claim payment from, to proceed against, or enforce any claims on or security given by, the Borrower or any other person before making demand from us hereunder.
Guarantee for Payment. The employer shall not provide to the contractor a guarantee for payment. The contractor shall waive his lien or right of continuing possession of the works [11.10]
Guarantee for Payment. The employer shall NOT provide to the contractor a guarantee for payment [11.
Guarantee for Payment. The employer shall NOT provide to the contractor a guarantee for payment [11.