Examlex
A trade agreement that removes all import tariffs between member countries, sets up common external tariffs against non-members, but does not advance toward economic integration is called:
Surety
A financial guarantee by one party (the surety) to assume responsibility for the debt obligation of a borrower if that borrower defaults.
Principal Debtor
The primary individual or entity responsible for fulfilling the obligations of a debt or loan agreement.
Surety
A financial arrangement where a third party (surety) agrees to assume responsibility for the debt or obligation of another party if that party fails to meet their obligations.
Consideration
The value (such as money, services, or goods) promised in a contract which motivates a party to enter into the agreement.
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