26 June 2013
A Company sells all its products to customers on credit. It wants to obtain Bank Guarantee from its customers since it has newly started operations in an area.
As per the terms, customer should make payment within 90 days failing which the Bank Guarantee shall be invoked and the BG should be obtained initially for one year.
Can some one suggest a draft Format of Bank Guarantee to be obtained from customers? Also can someone suggest any other conditions in this regard?
CAclubindia
