Anonymous asked in Business & FinanceCredit · 1 decade ago

meaning of bank guarantee?

2 Answers

  • 1 decade ago
    Favorite Answer

    It is a contract you enter with a bank wherein the bank agrees to pay your obligations in case you fail to deliver.Gurantees can be of various types.Most popular are financial and performance guarantees.Financial simply promise to meet the financial obligation.Performance guarantees on the other hand promise to pay against various preaccepted fulfillment of performance indicators.

  • Anonymous
    4 years ago

    a monetary corporation assure is the two in this style of a cashiers examine or a assured letter of credit for a undeniable quantity of money/the letter says you're sturdy for the money/quantity needed. ought to get with a monetary corporation to set it up. cashiers examine says they have the money accessible and thats why the examine became into issued.

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