Bank Guarantee
This query is : Resolved
Roohi saxena
(Querist)
29 January 2010
Hello
Can anyone tell me wat exactly is bank guarantee?
Can anyone tell me wat exactly is bank guarantee?
CMA Ramesh Krishnan
(Expert)
29 January 2010
Bank Guarantee is a mode of satisfying an individual or a company into financial commitments in a business transaction between a buyer and a sellor. Bank Guarantee is a substitute for Earnest Money, Deposits required from a Contractor in executing a Work Order.
Bank Guarantee is a commitment from a Bank on behalf of its Client to honour financial commitments in case of defaults
Bank Guarantee is a commitment from a Bank on behalf of its Client to honour financial commitments in case of defaults
Roohi saxena
(Querist)
30 January 2010
Thanks a lot sir.
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