Guarantee, Guaranteed Annual Wage, Guild




Guarantee, Guaranteed Annual Wage, Guild :




Guarantee : a promise made by the producer that if the product fails to meet the approval of the customer then it would either be repaired or replaced



Guaranteed Annual Wage : a promise made by the organisation whereby the employer will be given a minimum wage in lieu of the hours he spends working for the company. It also includes a promise made by the employee that he or she would work overtime or accept transfers if the need may be.



Guild : a medieval Indian tradition used to denote a union of a group of people involved in the same trade. They form these unions in order to protect themselves, for example, an artist’s guild or a bookbinder’s guild.




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