Bank guarantee
DILIP KUMAR CHEJARA (ARTICLE) (38 Points)
22 April 2017
please explain me about bank guarantee and its type with example
DILIP KUMAR CHEJARA (ARTICLE) (38 Points)
22 April 2017
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 22 April 2017
There are only two types of bank gurantee one is the Performance bank Gurantee which a company generally insists for performance at the time of construction of factory from various vendors who does differnt types of civil work electrical work etc and another type of bank gurantee is Financial Bank Gurantee which we take from vendors who insists for 100% advance from us on the ground that if he runs away before performance after taking the money we invoke the bank gurantee
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