Bank gaurantee
This query is : Resolved
B SRINIVAS
(Querist)
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
(Expert)
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
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
(Expert)
17 January 2012
FOR ANY QUERY, PLEASE ASK
RAMESH VERMA
RAMESH VERMA
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