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Bond/Guarantee (B/G)
Bond/Guarantee
Bond/Guarantee is a written indemnity either conditional or unconditional, issued by the bank on behalf of a customer or an overseas bank. Should the principal not comply with his obligations, under the contract leading to a claim, the bank will make financial recompensation, in accordance with the terms of the B/G.
Most of the commonly used types of B/G are bid/tender bond, performance bond, advance payment bond, retention bond and custom bond. Once we know your trade transaction needs, we will tailor solutions specifically for your company.
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