Resources

Where you find the latest legal news and articles, Q & A and other resources.


Q & A

Q: What is a bank guarantee?
A:

A bank guarantee is an unconditional promise by a bank, on behalf of the bank’s customer, to pay the recipient of the guarantee the amount of the guarantee on written demand. It is an alternative to providing a security deposit or bond to a supplier, vendor or landlord. Bank guarantees require security in the form of cash held on deposit held with the bank, or real estate.



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