Jason Gavin

 There are risks of failure or refusal of one of the parties to fulfill its obligations to other party during the partnership at local and international level. The bank guarantee is widely used all over the world as a reliable protection of other party from financial losses. We offers bank guarantee services for both domestic and international transactions. The Banks issues various bank guarantees both within its own capabilities and within the cooperation of the worldwide known 1st class banks. We are professionals who provide complete consulting support in information about bank guarantees and selection of bank guarantee type depending on the customer needs. Main types of Bank Guarantees: 1. Guarantee of Payment. This type of guarantee is a security of payment obligations of Buyer to Seller. 2. Guarantees of Advance Payment Return. This Guarantee represents an obligation of the bank to return advance payment in the event that, after receiving an advance, the Seller does not perform i

Bank Guarantee vs. Letter of Credit: What's the Difference? A bank guarantee and a letter of credit are both promises from a financial institution that a borrower will be able to repay a debt to another party, no matter what the debtor's financial circumstances. While different, both bank guarantees and letters of credit assure the third party that if the borrowing party can't repay what it owes, the financial institution will step in on behalf of the borrower. By providing financial backing for the borrowing party (often at the request of the other one), these promises serve to reduce risk factors, encouraging the transaction to proceed. But they work in slightly different ways and in different situations. Letters of credit are especially important in international trade due to the distance involved, the potentially differing laws in the countries of the businesses involved, and the difficulty of the parties meeting in person. While letters of credit are primarily used in