Yes sure!
Because when Amex contacted my bank, they called me right after getting their mail!
they give me a copy of the mail, which clearly ask the bank to guaranteed my card for 75k usd, and in the letter they stated that if the customer don't pay them off, the bank will have to do it!
but like I said it was what they asked me in 2007! now I don't know,
It tooks one year for AMex, to offer me the Centurion card, and right after I was approved, as I cancel my platinum card, they sent back to my bank their guarantee!

the guarantee in itselft, is not that they want your bank to send them a check of 75k but they just want to ensure, that If i dont pay someone will do it on my behalf!