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Bank guarantee
Please guide me about a Bank Guarantee and Types of BG With Example.
Replies (1)
BG is of 3 types. 1 ) Advance (furnished to obtain advance 5% or 10% as the case may be as per Order & its validity) 2) Performance Guarantee of two type a) Performance of the Product you have suppled b) Performance (execution) of the Order.
All the Guarantees contains 3 conditions viz., %, Validity,forcemajure clause based on the conditions stipulated in customer's Purchase Order.
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