garanti

Garanti is a term used in law and commerce to denote a formal commitment by one party to ensure the performance of another party's obligations or to compensate the beneficiary if those obligations are not fulfilled. It can refer to a broad concept as well as to specific instruments that provide security in transactions.

Common forms include warranties or guarantees of quality provided by manufacturers or sellers, and financial instruments such as bank guarantees or performance guarantees. A warranty typically covers defects or deficiencies in goods or services, while a bank or performance guarantee is a promise from a financial institution or guarantor to meet an obligation if the primary party fails to do so.

In a bank guarantee, the bank agrees to pay a specified amount to the beneficiary if the applicant defaults on the underlying obligation, subject to the terms and conditions of the guarantee. A contract guarantee involves a guarantor, a beneficiary, and a principal debtor, with the guarantor taking on the risk of non-performance or non-payment.

The legal framework for guarantees varies by jurisdiction and context. Consumer warranties are often governed by consumer protection and sales laws, while commercial guarantees are governed by contract law and may follow industry standards or international practice as applicable to the instrument and sector involved.

Notes: Garanti is used in many languages to express the idea of assurance or security in a transaction. In Turkish, the word garan­ti­si means guarantee or warranty and is commonly used in everyday and legal language to describe such assurances.