How is NO GUARANTEE defined in a legal contract?
- NO GUARANTEE means the understanding that not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees owed by a client. Therefore, there cannot be any assurance that any specific creditor, or a client's creditors collectively, will agree to any specific settlement amount. All estimated lengths of time to settle a client's debts and the number of payments needed to achieve a settlement of all accounts are only projected estimates, not promises. Furthermore, clients must understand that their accounts will become delinquent during the settlement program and that they may continue to receive phone calls from creditors while completion of the represented debt-relief services is still pending. Seen in 2 SEC filings
- NO GUARANTEE means there is no assurance that future royalties from a certain program will be realized. Seen in 1 SEC filing
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
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Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- NO GUARANTEE means the absence of assurance concerning debt settlements, reductions, and agreed terms with creditors, or potential future income earnings.
Relevant Contract Types
Relevant Circumstances
- Debt restructuring and settlement talks
- Negotiating royalty earnings from a program
- Arranging payment plans
- Making financial agreements involving various forms of debt
Relevant Sectors
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NO GUARANTEE means the absence of assurance concerning debt settlements, reductions, and agreed terms with creditors, or potential future income earnings.
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