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Bank Guarantees for Govt Contractor

Others 258 views 3 replies

SMRITI SHARMA

23 Points Posted on 10 May 2021

Suppose XYZ company is engaged in providing infrastructure services to Govt . on contractual basis. Now when the company issues a Bank Guarantee in lieu of Bid Security, such bank guarantees will be classified as Performance Guarantee or Financial Guarantee ??

Replies (3)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 10 May 2021

Financial Guarantee

CMA Poornima Madhava

CMA

13117 Points Posted on 10 May 2021

Yes, it is a financial guarantee

Prachi Bansal

3134 Points Posted on 11 May 2021

Financial guarantee and collateral relation?

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