An assurance to a beneficiary that the bank will uphold a contract if the applicant and counterparty to the contract are unable to do so. A guarantee means giving something as security. A bank guarantee is when a bank offers surety and guarantees for different business obligation on behalf of their customers within certain regulations.It is generally a promise made by the bank to any third person to undertake the payment risk on behalf of its customers.
Showing posts with label Bank Guarantee. Show all posts
Showing posts with label Bank Guarantee. Show all posts
Sunday, July 11, 2021
Wednesday, June 16, 2021
Bank Guarantee
Bank Guarantee
An assurance to a beneficiary that the bank will uphold a contract if the applicant and counterparty to the contract are unable to do so. A guarantee means giving something as security. A bank guarantee is when a bank offers surety and guarantees for different business obligation on behalf of their customers within certain regulations.It is generally a promise made by the bank to any third person to undertake the payment risk on behalf of its customers.
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