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Bank Guarantee

  • Alias:

    Category:Logistics Knowledge

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  • Summary

    A guarantee from a lending institution ensuring that the liabilities of a debtor will be met.


  • Meaning:


    Definition of '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 explains 'Bank Guarantee'


    A bank guarantee enables the customer (debtor) to acquire goods, buy equipment, or draw down loans, and thereby expand business activity.



  • Reference:

    http://www.investopedia.com/terms/c/cfr.asp