国际结算笔记5.pptVIP

Chapter 6 L/G and Stand-by L/C L/G definition A bank guarantee is a written promise issued by a bank at the request of its customer, undertaking to make payment to the beneficiary within the limits of a stated sum of money in the event of default by the principal. A bank guarantee is used as an instrument for securing performance or payment especially in international business. Chapter 6 L/G and Stand-by L/C classifications accessory guarantee independent L/G Accessory guarantee is an accessory contract by which the guarantor undertakes to answer for the debt, default or miscarria