#financial guarantee

• Insurance — The act of insuring or ensuring and its result; a legal and financial operation whereby a specialized company (insurer) undertakes, in exchange for a periodic premium, to compensate a person (insured) for losses suffered upon the occurrence of a specified risk. In a structural and psychological sense, it defines the state of certainty, protection, or full confidence obtained through precautionary measures or firm guarantees offered to an entity.
• Downstream — The part of a watercourse located in the direction of the current, toward the mouth (as opposed to amonte); (adverbially) in the direction of the water flow; (in economics and law) a written personal guarantee, usually on a bill of exchange or promissory note, whereby a person (avalist) binds themselves to pay the mentioned amount if the primary debtor fails to fulfill their obligation.
• Aval backing — The act of guaranteeing a bill via an aval and its result; the legal and financial operation through which a physical or legal person guarantees by signature the payment of a bill of exchange or promissory note, assuming joint liability for extinguishing the commercial debt.