BANK GUARANTEE
This query is : Resolved
Guest
Guest
(Querist)
30 June 2008
IS IT POSSIBLE TO TAKE LOAN AGAINST BANK GUARANTEE LYING WITH US.
BANK GUARANTEE IS TRANSFERRABLE OR NOT.
WHAT IS THE PROCEDURE FOR ENCASHMENT OF A BANK GUARANTEE.
IS THIS POSSIBLE FOR ISSUING BANK TO TRANSFER HIS LIABILITY TO ANATHER BANK REGARDING BANK GUARANTEE ISSUED BY HIM.
REGARDS
RAJESH
IS IT POSSIBLE TO TAKE LOAN AGAINST BANK GUARANTEE LYING WITH US.
BANK GUARANTEE IS TRANSFERRABLE OR NOT.
WHAT IS THE PROCEDURE FOR ENCASHMENT OF A BANK GUARANTEE.
IS THIS POSSIBLE FOR ISSUING BANK TO TRANSFER HIS LIABILITY TO ANATHER BANK REGARDING BANK GUARANTEE ISSUED BY HIM.
REGARDS
RAJESH
30 June 2008
1.It is not possible to take loan against bank guarantee, the reason being the BG is infavour of you. If you can manage tto provide a BG in favour of the bank who is lending money, then it may be possible.
2.Bank guarantee is not transferrable
3.You can revoke the BG by sending the original BG to the issuing bank under your covering letter requesting the bank to issue a demand draft for the sum equal to the amount of BG in favour of you.
The issuing bank cannot transfer their liablity to another bank.
2.Bank guarantee is not transferrable
3.You can revoke the BG by sending the original BG to the issuing bank under your covering letter requesting the bank to issue a demand draft for the sum equal to the amount of BG in favour of you.
The issuing bank cannot transfer their liablity to another bank.
03 October 2009
Hello, is this an old query still pending?????? plz send me a PM if yes.....
03 October 2009
Hello, is this an old query still pending?????? plz send me a PM if yes.....
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