Guarantee fulfillment of obligations
On the basis of a guarantee of fulfillment of obligations, the bank, on the instructions of the seller, is obliged to pay the specified guaranteed amount to the customer in the event of the contractor’s failure to fulfill or improperly fulfill his obligations under the contract with the customer.
Show details
Hide details
On the basis of a guarantee of fulfillment of obligations, the bank, on the instructions of the seller, is obliged to pay the specified guaranteed amount to the customer in the event of the contractor’s failure to fulfill or improperly fulfill his obligations under the contract with the customer. Thus, the customer is fully protected from the risks of breach of contract by the contractor, which certainly increases the degree of confidence in him and is his added advantage among competitors.