The phrase "assurance of payment" is correct and usable in written English.
It can be used in contexts related to financial transactions, contracts, or agreements where a guarantee of payment is being discussed.
Example: "The contractor provided an assurance of payment before starting the project to ensure that all parties were protected."
Alternatives: "guarantee of payment" or "payment assurance".
For purposes of this subsection an administrative expense priority shall not constitute an assurance of payment.
The classic explanation claims that the letter of credit provides an effective assurance of payment from a financially responsible third party.
On request of a party in interest and after notice and a hearing, the court may order reasonable modification of the amount of the deposit or other security necessary to provide adequate assurance of payment.
On request of a party in interest and after notice and a hearing, the court may order modification of the amount of an assurance of payment under paragraph (2). the availability of an administrative expense priority.
Subsection (b) protects the utility company by requiring the trustee or the debtor to provide, within ten days, adequate assurance of payment for service provided after the date of the petition.
Such utility may alter, refuse, or discontinue service if neither the trustee nor the debtor, within 20 days after the date of the order for relief, furnishes adequate assurance of payment, in the form of a deposit or other security, for service after such date.
At the same time, the draft offers donor nations assurances of "payment for verified results," potentially putting a brake on spending.
The club's groundsharing arrangement with Motherwell could also be threatened by the move into administration, as Motherwell are likely to seek assurances of future payment for allowing Gretna to stage their games at Fir Park.
These incidents usually result from the government's failure to pay the military, resulting in a spontaneous mutiny that is resolved by credible assurances of both impending payment of arrears and immunity from sanctions.
"It may provide a vague assurance of a higher likelihood of good future payment performance," he said.
New kinds of payment plans?
