Bank Guarantees and Bonds are Financial Guarantees issued by banks and financials institutions that provide protection in the event of a default of an obligation.
They can be used for various purposes including both trade and projects.
Below are examples of some of the types of Bank Guarantees and Bonds (i.e. Financial Guarantees);
- Performance Bonds
- Advance Payment Guarantee
- Bid Bonds / Tender Bonds
- Retention Bonds
- Deferred Payment Guarantee
