Bank guarantee
This query is : Resolved
Anil Bhandari
(Querist)
14 December 2011
What is Bank Guarantee?
CA S P BHATNAGAR
(Expert)
14 December 2011
A type of guarantee in which a bank or other lending organization promises to repay the liabilities of a debtor in the event that the debtor is unable to.
RAMESH KUMAR VERMA
(Expert)
15 December 2011
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 more info:
https://www.caclubindia.com/forum/what-is-bank-guarantee--109233.asp
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 more info:
https://www.caclubindia.com/forum/what-is-bank-guarantee--109233.asp
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