Guarantee is an irrevocable undertaking issued by the bank on behalf of its clients guaranteeing payment to third parties in the event of default by the customer. By providing a guarantee instead of upfront payment the client can retain his liquidity and save on interest costs.

Types:
Bid Bonds (Tender Bonds)
Performance Bonds
Advance Payment Guarantee
Retention Money Guarantee
Shipping Guarantee
Financial Guarantee

Terms & Conditions: Can Vary.