MT760

Bank Guarantees is a written undertaking issued by banks on behalf of their client to ensure that all obligations will be met without any default. Since the banks are giving the written undertaking; in case, if the client has failed to meet the contractual terms; then the banks are liable to cover it.

What is Advance Payment Guarantees Letter? Advance Payment Guarantees is a written undertaking issued by a bank as a kind of assurance. Also, this bond assures the buyer that in a case, if the seller fails to meet the agreed obligation of goods or services.