guarantee

Defined in Article 1, Commission Delegated Regulation (EU) No 285/2014

Uses as of 28/07/2016

Definitions over time (1)

1. 10/04/2014 – today applies on 28/07/2016 Article 1, Commission Delegated Regulation (EU) No 285/2014 Scope: Whole act

   For the purposes of this Regulation the following definition shall apply: ‘guarantee’ means an explicitly documented legal obligation by a guarantor to cover payments of the amounts due or that may become due pursuant to the OTC derivative contracts covered by that guarantee and entered into by the guaranteed entity to the beneficiary where there is a default as defined in the guarantee or where no payment has been effected by the guaranteed entity.

Used in (15 places in 3 provisions on 28/07/2016)

Commission Delegated Regulation (EU) No 285/2014 (15 in 3)

Recital 5³ · Article 1³ · Article 2⁹