An advance payment guarantee is a type of protection that lets a buyer get back any advance payments he has made if the seller...
Following international practices and debt sustainability principles, it is working to create a long-term, stable, sustainable and risk-controlled investment and financing system with innovative models and diverse channels in order to establish a stable, transparent and high-quality funding guarantee syste...
Bank Guarantee (BG) is an agreement between 3 parties: the bank, the beneficiary, and the applicant. The beneficiary is the one who takes the guarantee. And the applicant is the party who seeks the bank guarantee from the bank. BGs are an important banking arrangement and play a vital rol...
6. Advance Payment Guarantee This is used when a company is awarded a project and then the company asks for some advance payment from the government to start off with the project then usually 10%- 20% of the project cost is given to the company. Against this advance payment government agen...
The customer benefits from the guarantee that they only pay for items that have been actually delivered to them, and in good condition. Because no advance authorization is required, it is a very efficient system and has no impact on the lead time for dispatching products or delivering services...
An ordinary import letter of credit is an irrevocableguarantee of paymentissued by a bank. A buyer arranges for the document to be drawn on his bank once he has an executed sales contract with the exporter. The letter of credit specifies the terms that need to be satisfied in order for th...
Under the Direct Debit Guarantee, the rules around refunds are particularly strong. A customer can request a refund for any payment and, provided the bank agrees with the validity of their claim, the customer will receive an immediate refund. Further, there is no time limit on when claims can...
While there are many examples of guarantee bonds that do have an equitable amount of underwriting, others are purposefully underwritten. When this is the case, the potential for the guarantee bond to perform to expectations is somewhat minimized. It is still possible for the investor to earn the...
Anadvance payment guaranteeserves as a form of insurance, assuring the buyer that, should the seller fail to meet the agreed-upon obligation of goods or services, the advance payment amount will be refunded to the buyer. This protection allows the buyer to consider a contract void if the sell...
Bank guarantees are mostly seen in international business transactions, although they may also individuals may need a guarantee to rent property in some countries. Different types of guarantees include a performance bond guarantee, an advance payment guarantee, a warrantee bond guarantee, and a rental...