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Bank Guarantee

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(Querist)
29 January 2010 Hello
Can anyone tell me wat exactly is bank guarantee?
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CMA Ramesh Krishnan

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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
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Roohi saxena

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Roohi saxena (Querist)
30 January 2010 Thanks a lot sir.
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