Factor guarantee Payment of an invoice is made by a factor under the guarantee he issued to seller or to another factor. Bank guarantee A bank has agreed to stand as guarantor to ensure that payment is made. Public authority guarantee A public authority has agreed to stand as guarantor to ensure that payment is made. Third party guarantee The party who has agreed to stand as guarantor to ensure that payment is made is neither the payee nor the payer. Standby letter of credit The guarantee of payment is in the form of a standby letter of credit. No guarantee No guarantee of payment has been made or is available. Goods as security The payer has provided possession of, or title in goods, as security against payment. Business as security The payer has provided title in, or a lien over a business whose assets may be sold or sequestered, as security against payment. Warrant or similar (warehouse receipts) The payer has provided a warrant or warehouse receipts for goods or property to be held or used as security against payment. Mortgage The payer has provided a mortgage as security against payment. Insurance certificate A certificate of insurance has been provided as a guarantee of eventual payment. Mutually defined A code assigned within a code list to be used on an interim basis and as defined among trading partners until a precise code can be assigned to the code list.