Bank gaurantee
This query is : Resolved
17 January 2012
Dear sir tell me about bank gaurantee what is bank gaurantee what is the procedure to take it why we need it
17 January 2012
A bank guarantee is a commercial instrument in the nature of a contract, intended between two parties, to secure compliance with the contract. It is an off-shoot of the main contract between two parties.
A bank guarantee is a guarantee made by a bank on behalf of a customer (usually an established corporate customer) should it fail to deliver the payment, essentially making the bank a co-signer for one of its customer's purchases.
FOR BROADLY INFORMATION LINK IS:
http://www.eximguru.com/exim/guides/export-finance/ch_8_bank_guarantees.aspx
A bank guarantee is a guarantee made by a bank on behalf of a customer (usually an established corporate customer) should it fail to deliver the payment, essentially making the bank a co-signer for one of its customer's purchases.
FOR BROADLY INFORMATION LINK IS:
http://www.eximguru.com/exim/guides/export-finance/ch_8_bank_guarantees.aspx
17 January 2012
FOR ANY QUERY, PLEASE ASK
RAMESH VERMA
RAMESH VERMA
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