From Longman Business Dictionaryperformance guaranteeperˈformance guaranˌtee1another name for GUARANTEEThe engine is covered by a performance guarantee.2FINANCE in selling a property or other investment, a guarantee by the seller that the property etc will reach a minimum level of profitabilityThe sale of the ski resort is subject to performance guarantees that it will live up to expectations.3COMMERCE a contract between a supplier and a manufacturer that specifies conditions for the design and delivery of parts by the supplierMicro Compact Car has performance guarantees with the component companies that are partners on the project. → guarantee
