Business Description
A Bank Guarantee is a versatile tool which can function as a number of instruments: a bid bond, a performance bond, and advanced payment guarantee, a warranty bond, a letter of indemnity, a payment guarantee, a rental guarantee, or a confirmed payment order. Guarantees provide comfort to the beneficiary; in case the applicant fails to meet his obligations as per the contract made between the applicant and the beneficiary, the beneficiary will have the guarantee to turn to for payment.
