Please guarantee your project

Perhaps I don''t fully understand how this site works (first time using).  My understanding is that if I guarantee the project then I have to take one of the designs no matter what, but there doesn''t appear to be an equal guarentee that someone will produce something that meets our needs.  Do I understand correctly or am I missing something? 

Thanks!  

Perhaps I don''t fully understand how this site works (first time using).  My understanding is that if I guarantee the project then I have to take one of the designs no matter what, but there doesn''t appear to be an equal guarentee that someone will produce something that meets our needs.  Do I understand correctly or am I missing something? 

Thanks!  

You are correct there Project Owner. If you guarantee the project, in the end you will have to pick a winner, but I think you can also extend the deadline should the time limit you first set doesn't produce good enough designs. If you don't guarantee the project you can still see the designs and in the end if you don't like any, you can take your money back.