Пример употребления: An advance payment guarantee is a form of protection that makes it possible for a buyer to recover any advance payments extended to a seller in the event that the seller fails to abide by the terms and conditions that govern the purchase of goods or services. A guarantee of this type may be used in a number of situations, including deals where goods are imported or exported. It is also used with domestic transactions, such as the purchase of heavy equipment, construction projects, or even large lots of retail goods. (WiseGEEK).
Advance payment guarantee. Also called an advance payment bond. A contract under which the issuer undertakes to be responsible for the fulfilment of a contractual obligation owed by one person to another if the first person defaults. [...] For example, a buyer or employer may make down or advance payments to a seller or contractor to provide it with funds to purchase necessary materials or machinery or otherwise prepare itself to perform the contract. The buyer or employer will wish to ensure that if the seller or contractor fails (perhaps because of insolvency) to deliver the goods or perform the services in accordance with the contract then, at the very least, it can recover the payments made to the seller or contractor. The buyer or employer will, therefore, require the seller or contractor to provide an advance payment guarantee or bond for these payments. The guarantee or bond will provide that if the seller or contractor fails to meet its contractual obligations, the issuer will refund the advance payments made by the buyer or employer. (uk.practicallaw.com).
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