sponsion

Example:The company will provide sponsion for the trade deficit by purchasing more imported goods.

Definition:a promise to be responsible for another's debts or obligations. When someone sponsors another, they are guaranteeing or indemnifying that person's debts or actions.

Example:The sponsor must fully understand the risks involved in the sponsion agreement.

Definition:the potential for loss or damage. In sponsion, the sponsor assumes the risk of any potential losses that the other party might incur.

Example:The sponsor is responsible for any liability that arises from the actions of the sponsored party.

Definition:the responsibility for damages or debts. Sponsion involves taking on the liability for another's actions or debts.