Bank Guarantee

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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.
References in periodicals archive ?
Advance payment bank guarantees or parent company guarantee letter expiry date - 6 (six) months from the date of entry.
encash the bank guarantees to be furnished by Roy in case he defaults in paying the two instalments.
of the amounts paid by the Guarantor under the Bank guarantees, arising
18 ( ANI ): The Indian Government on Tuesday said that it will file an appeal against an Italian court's order for encashment of bank guarantees worth over Rs.
A PROVISIONAL seizure of two bank guarantees has been quashed by the High Administrative Court.
Importing companies call for smaller bank guarantees for products that cross the country only in transit.
UL) (AIB) has called for an extension of bank guarantees.
Abu Dhabi As many as 18 travel agents or sales intermediaries (SSI) in the UAE could go out of business due to lack of bank guarantees, a requirement imposed by the International Air Transport Association (IATA), Gulf News has learnt.
Under a new Afghan-Pakistan Transit Trade Agreement (APTTA), Islamabad has suggested Afghan importers submit bank guarantees on transportation of goods to the landlocked country.
Ministry of Finance and Samba Financial group sign an Agreement to perform the bank guarantees service e-registration using the e-dirham system
Under its standing Delegated Authority arrangement with Ex-Im Bank, JPMorgan Chase continues to make the credit decision and issue Ex-Im Bank guarantees for loans up to $10 million.
Bank guarantees issued by foreign banks should be advising by Bulgarian bank confirming the authenticity of the message, translated into Bulgarian language.