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counter guarantee (Back-to-back guarantee given by an obligor to indemnify a surety in a three-party contract (such as a performance bond). A counter guarantee is cashed in the unexpected event the obligor fails in the performance of a contract and the obligee calls upon the surety to honor the bond (guaranteed by the surety on behalf of the obligor). Also called counter indemnity. Read more:  businessdictionary.com Alexander Demidov) | |||
| counter-guarantee; counter-indemnity | |||