Sir from Bank's point of view What is Finacial guarantee and performance guarantee? , I mean whether it is a financial liability or non financial liability. ?.
In the same way if a company gives guarantee on behalf of another company ,whether or is afibacial liability or non financial liability.
Thnx.
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IndAS Classification of guarantee.
Replies (1)
https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=318#:~:text=(i)%20As%20a%20general%20rule,due%20caution%20in%20the%20matter.
Both are contingent in nature
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