Tuesday 5 November 2013

Bank Guarantees

A bank guarantee represents an irrevocable obligation of the bank to pay a specified amount of money if the party for which the bank is giving the guarantee does not fulfill its contractual obligations.
  Several types of guarantees:
  • A payment guarantee is used to guarantee the seller that the buyer will fulfill its payment obligations as stated in the contract.
  • A tender guarantee (bid bond) is used for participation in international tenders, such a guarantee covers the organizers’ expenses in case when a participant revokes its bid or does not accept the offer.
  • A performance guarantee is used to strengthen the contractual relationship between a buyer and a seller. It guarantees compensation of the agreed-upon amount in case the delivery terms or other contractual obligations of the seller are not fulfilled as agreed upon in the contract.
  • An advance payment guarantee is used when the contract provides for advance payment to be made to the seller, and it guarantees that the advance payment will be returned to the buyer if the seller does not fulfill its obligations on delivery of goods or services.

12 comments:

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  2. We are authorized Financial consulting firm that work directly with
    A rated banks eg Lloyds Bank,Barclays Bank,hsbc bank etc
    We provide BG, SBLC, LC, LOAN and lots more for client all over the world.
    Equally,we are ready to work with Brokers and financial
    consultants/consulting firms in their respective countries.
    We are equally ready to pay commission to those Brokers and financial
    consultants/consulting firms.
    Awaiting a favourable response from you.
    Best regards
    WALSH SMITH, ROBERT
    email : info.iqfinanceplc@gmail.com
    skype: cpt_young1

    ReplyDelete
  3. We are authorized Financial consulting firm that work directly with
    A rated banks eg Lloyds Bank,Barclays Bank,hsbc bank etc
    We provide BG, SBLC, LC, LOAN and lots more for client all over the world.
    Equally,we are ready to work with Brokers and financial
    consultants/consulting firms in their respective countries.
    We are equally ready to pay commission to those Brokers and financial
    consultants/consulting firms.
    Awaiting a favourable response from you.
    Best regards
    WALSH SMITH, ROBERT
    email : info.iqfinanceplc@gmail.com
    skype: cpt_young1

    ReplyDelete
    Replies
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  4. We are authorized Financial consulting firm that work directly with
    A rated banks eg Lloyds Bank,Barclays Bank,hsbc bank etc
    We provide BG, SBLC, LC, LOAN and lots more for client all over the world.
    Equally,we are ready to work with Brokers and financial
    consultants/consulting firms in their respective countries.
    We are equally ready to pay commission to those Brokers and financial
    consultants/consulting firms.
    Awaiting a favourable response from you.
    Best regards
    WALSH SMITH, ROBERT
    email : info.iqfinanceplc@gmail.com
    skype: cpt_young1

    ReplyDelete
  5. We are authorized Financial consulting firm that work directly with
    A rated banks eg Lloyds Bank,BarclaysBank,hsbc bank etc
    We provide BG, SBLC, LC, LOAN and lots more for client all over the world.
    Equally,we are ready to work with Brokers and financial
    consultants/consulting firms in their respective countries.
    We are equally ready to pay commission to those Brokers and financial
    consultants/consulting firms.
    Awaiting a favourable response from you.
    Best regards
    WALSH SMITH, ROBERT
    email : info.iqfinanceplc@gmail.com
    skype: cpt_young1

    ReplyDelete
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