Bank Guarantees
Bank Guarantees can be either direct or indirect.
A Direct Guarantee : it occurs when a authorized bank is structured to issue a guarantee by its account holder, in favour of the beneficiary.
An Indirect Guarantee : it occurs when a second bank is asking to issue a guarantee in return for a counter guarantee. If the second bank may loss in the event of claim against the guarantee, the issuing bank reimburse any losses the second bank suffers.
A breakdown of BG types is provided below:
- Bid Bond
- Performance Bond
- Advance Payment Guarantee
- Warranty Bond
- Letter of Indemnity (LOI)
- Payment Guarantee
- Rental Guarantee
- Confirmed Payment Order
Telephone Number:
+65 8291-7865 +60 1133-444-228 +62 821-2328-089
Office Address:
Suite 506, 5th Floor, Campbell Complex, 98 Jalan Dang Wangi, 50100 Kuala Lumpur, Malaysia
Email Address:
ravi@rayfintrade.com