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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 419 809

Financial Guarantee

A non-cancelable indemnity bond guaranteeing the timely payment of principal and interest due on securities by the maturity date.

If the issuer defaults, the insurer will pay a fixed sum of money to holders of the securities. Financial guarantees are similar to a STANDBY LETTER OF CREDIT, but are issued by an insurance company. See CREDIT ENHANCEMENT.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 419 809

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