Elements Of A Bank Guarantee

bank guarantee

Beneficiary: The beneficiary is the person who has authority to draw on the bank guarantee in the event that the bank’s client fails to make payment. The beneficiary is named specifically on the bank...

Letter of Credit Fraud

bank guaranty

Letters of credit provide great capacity for fraud because they are used in transactions where goods are not sighted directly by the buyer, and are often paid for after shipment, not upon receipt...

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