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Bank Guarantee |
Also found in: Acronyms | 0.01 sec. |
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Bank Guarantee A promise made by a bank to provide payment to another bank or lender on a bond, loan, or other liability in the event of default. Banks often make guarantees on behalf of certain clients to promise payment on loans. Bank guarantees reduce the risk to loans and liabilities and usually improve the credit agency ratings of bonds. Bank Guarantee What Does Bank Guarantee Mean? A guarantee issued by a lending institution ensuring 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. Investopedia explains Bank Guarantee A bank guarantee enables the customer (debtor) to acquire goods, buy equipment, or draw down loans and thus expand business activity. Related Terms: How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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