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Litigation Guarantee. A Litigation Guarantee is designed for issuance to an attorney representing the plaintiff in an action affecting land. Typical litigation includes actions to quiet title, foreclosure of liens, condemnation and declaratory relief.back. Litigation Guarantee is designed for issuance to an attorney representing the plaintiff in an action affecting land. Typical litigation includes actions to quiet title, foreclosure of liens, condemnation and declaratory relief. back.
A bank guarantee, like a letter of credit, guarantees a sum of money to a beneficiary. Unlike a letter of credit, the sum is only paid if the opposing party does not fulfill the stipulated obligations under the contract.