Bank gaurantee

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B SRINIVAS (Querist)
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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

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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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:

https://www.eximguru.com/exim/guides/export-finance/ch_8_bank_guarantees.aspx

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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17 January 2012 FOR ANY QUERY, PLEASE ASK

RAMESH VERMA

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