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Query about b.g

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(Querist)
15 January 2014 We are a trader got a purchase order for supply of material. The buyer is agreed to give an advance of 10% of total order price & a bank Guarantee for Rs. 60 lakhs.
For which what will be the secured format of the B.G?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
16 January 2014 Dear govind,

BG issued by a bank on behalf of a person. it is a standardised banking instrument...you need not worry too much...however ensure that the BG is issued by a reputed bank preferably nationalized one.
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