Русско-англо-русский юридический словарь

Parent company guarantees are a common feature of construction and engineering projects. Their purpose is simple: to provide one party with security in the event the other party fails to comply with its contractual obligations. Sometimes, instead of providing a parent company guarantee, parent companies might alternatively provide a generally worded letter of support confirming that it is the group's policy to ensure its subsidiaries are able to meet their liabilities. (Mondaq)