A guaranteed bonus is one that is guaranteed under a contract. Sometimes referred to as a “golden handshake”, this type of bonus provides certainty of a bonus regardless of the company or individual’s performance. Provided the employment contract is properly drafted, there should be no issues in receiving this bonus as an employee.
If an employer fails to pay a guaranteed bonus by the due date, you can make a claim for the recovery of the amount owed. Note that some contracts contain a clause that says that a guaranteed bonus will not be paid if the employment is terminated due to situations such as gross misconduct.