From Surf Wiki (app.surf) — the open knowledge base
Bank guarantee
Financial guarantee from a lender
Financial guarantee from a lender
A bank guarantee is a kind of guarantee from a lending organization. The bank guarantee also signifies that the lending institution ensures that the liabilities of a debtor are going to be met. In other words, if the debtor fails to perform the obligation, the bank will cover it. A bank guarantee allows the customer, or debtor, to acquire goods, purchase equipment or draw down a loan. A bank guarantee is a promise from a bank or other lending institution that if a particular borrower defaults, the bank will cover the loss. A bank guarantee is similar to, but not the same as a letter of credit.
References
References
- [https://www.investopedia.com/terms/b/bankguarantee.asp What Is a Bank Guarantee?] ''investopedia.com''
- [https://investinganswers.com/dictionary/b/bank-guarantee Bank Guarantee] ''investinganswers.com''
This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.
Ask Mako anything about Bank guarantee — get instant answers, deeper analysis, and related topics.
Research with MakoFree with your Surf account
Create a free account to save articles, ask Mako questions, and organize your research.
Sign up freeThis content may have been generated or modified by AI. CloudSurf Software LLC is not responsible for the accuracy, completeness, or reliability of AI-generated content. Always verify important information from primary sources.
Report