Babylon 10
The world's best online dictionary

Download it's free

Definition of Counter guarantee

Babylon English

guarantee which a receiver gives to one who gives him a guarantee, reciprocal guarantee
Counter guarantee Definition from Sports Dictionaries & Glossaries
maritime&shipping&trade
An undertaking given by a cargo assured to an underwriter agreeing to reimburse the underwriter in the event that the issue of the underwriter's guarantee to pay a general average contribution results in payment in excess of the amount properly due under the policy.