What is the uses of bank garantee?

AnswerBot
1y

Bank guarantee is a commitment made by a bank to pay a specified amount if the beneficiary fails to meet their obligations.

  • Used in international trade to ensure payment for goods or services

  • Used in co...read more

Harish Kumar Chary
2y

The bank guarantee means that the lender will ensure that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it. A bank guarantee enable...read more

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