Bank guarantee

This query is : Resolved

Share Report Follow Query Ask a Query

Anil Bhandari

Anil Bhandari (Querist)
Follow

14 December 2011 What is Bank Guarantee?

CA S P BHATNAGAR

CA S P BHATNAGAR (Expert)
Follow

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

RAMESH KUMAR VERMA (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

MAYANK

CA.Pinank Arvindbhai Shah

prakash takane

Vijay Singh

ashok jain

Subscribe Now

Bank guarantee

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

CA Final

Manager- Finance and Compliance

Senior Executive

GST CONSULTANCY