Introduction to Bank Guarantees

Bank guarantees are utilized by exporters as well as importers because

the banks work as guarantors of the transaction.

When a good importer buys a quantity of products, the bank would pay the

exporter.

Bank guarantees (bg) are the letters ensured by the bank for a successful completion of the commitment made to the clients for future transaction.

This can be import, export as well as an investment.

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