types of bank gaurantee
This query is : Resolved
20 June 2016
what is the difference between financial and performance gaurantee
20 June 2016
financial guarantees are BANNED by RBI since long
Performance guarantee.....the gurntee given by the bank for its client towards completion of a work...performance of work....e.g. guarantee of 25 lakh....that the contractor will complete the road building work....if not guarantee will be invoked and bank will pay the amount
Performance guarantee.....the gurntee given by the bank for its client towards completion of a work...performance of work....e.g. guarantee of 25 lakh....that the contractor will complete the road building work....if not guarantee will be invoked and bank will pay the amount
21 June 2016
thank you sir
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21 June 2016
you are most welcome
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