What is Bank Guarantee (BG)?
What is Bank Guarantee (BG)?
What is Bank Guarantee (BG)? A Bank Guarantee (BG) is primarily a type of contract between the debtor and the lender where the lender agrees to compensate the debtor’s liability in case certain contractual obligations fail to be met. Let’s understand this better with the example. If you are running a restaurant business and wish to expand your working area with the latest equipment then you…
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