Technical Guarantee definition
Technical Guarantee means guarantees of a non-monetary bond which therefore implies no direct obligation to pay the stipulated net amount. Examples of the Technical Guarantee would be contracting projects, services and supplies with public organisms, other suppliers and customers, or auctions and related transactions, also with the above.
Examples of Technical Guarantee in a sentence
Upon the occurrence of the concluded financial closing of funding in which the Hartford Technical Guarantee is employed, Company will issue to Consultant 61,000 shares (after adjustment for stock dividends, splits, or reverse stock splits subsequent to December 1, 1997) of Company common stock in exchange for assisting in arranging the Hartford Technical Guarantee.