国际结算双语chapter 9 bank guarantee.pptVIP

* * * * * * * * * * * * * * * * * * Letter of Guarantee Chapter 9 In bank guarantee transaction, importers and exporters enter into deal with the help of bank credit. Its difference from bank L/C is as follows; Its documents requirement is simpler than L/C and banks assume more risks in LG(=letter of guarantee). So, it is normally applied in the countries with comparatively complete credit system. 2. The applicant of L/C must be importer while the applicant of L/G can be buyer and seller, in which banks can offer guarantee for the payment of buyer and also for the performance of seller