What Does Bank Guarantee Mean?
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.
In other words, if the debtor fails to settle a debt, the bank will cover it.
A bank guarantee enables the customer (debtor) to acquire goods, buy equipment, or draw down loans, and thereby expand business activity.
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