Bank Guarantee
A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it. Investopedia Says:
A bank guarantee enables the customer (debtor) to acquire goods, buy equipment, or draw down loans, and thereby expand business activity. Related Terms:
Avalize
Bank
Debtor
Demand Guarantee
Leased Bank Guarantee
Letter Of Credit
Liability |