Bank Guarantee definition: Copy, customize, and use instantly
Introduction
The term "Bank Guarantee" refers to a promise by a bank to cover a financial obligation or liability of a client in case the client fails to meet their obligations. It is essential for ensuring trust and financial security in transactions, protecting beneficiaries, and enabling credit access.
Below are various examples of how "Bank Guarantee" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Bank Guarantee" as a financial security instrument
This definition ties "Bank Guarantee" to financial security.
"Bank Guarantee" means a commitment by a bank to fulfill the financial obligations of its client if the client fails to do so.
Definition of "Bank Guarantee" as assurance for creditors
This definition connects "Bank Guarantee" to creditor assurance.
"Bank Guarantee" refers to a promise by a bank ensuring that creditors will receive payment if the debtor defaults.
Definition of "Bank Guarantee" as a risk mitigation tool
This definition links "Bank Guarantee" to risk mitigation.
"Bank Guarantee" means a financial instrument used to reduce risks in transactions by providing a bank's backing.
Definition of "Bank Guarantee" as a contractual guarantee
This definition applies "Bank Guarantee" to contracts.
"Bank Guarantee" refers to an agreement where a Bank Guarantees payment or performance under specific contract terms if the client defaults.
Definition of "Bank Guarantee" as support for trade transactions
This definition ties "Bank Guarantee" to trade.
"Bank Guarantee" means a bank's assurance to fulfill a party's payment obligations in domestic or international trade.
Definition of "Bank Guarantee" as a performance guarantee
This definition connects "Bank Guarantee" to performance.
"Bank Guarantee" refers to a bank's promise to compensate the beneficiary if the client fails to perform as agreed in a contract.
Definition of "Bank Guarantee" as collateral for credit
This definition links "Bank Guarantee" to collateral.
"Bank Guarantee" means a form of collateral provided by a bank to secure credit facilities or loans for its clients.
Definition of "Bank Guarantee" as beneficiary protection
This definition applies "Bank Guarantee" to protecting beneficiaries.
"Bank Guarantee" refers to a mechanism ensuring that the beneficiary receives compensation if contractual obligations are not met.
Definition of "Bank Guarantee" as insurance for financial obligations
This definition ties "Bank Guarantee" to financial insurance.
"Bank Guarantee" means an assurance by a bank that it will cover financial obligations in the event of a client's default.
Definition of "Bank Guarantee" as a surety bond
This definition connects "Bank Guarantee" to surety.
"Bank Guarantee" refers to a financial tool similar to a surety bond, where the bank acts as a guarantor for a client.
Definition of "Bank Guarantee" as credit enhancement
This definition links "Bank Guarantee" to credit enhancement.
"Bank Guarantee" means a financial instrument that enhances a client's creditworthiness by providing a bank's backing.
Definition of "Bank Guarantee" as a standby commitment
This definition applies "Bank Guarantee" to standby commitments.
"Bank Guarantee" refers to a bank's standby promise to pay the beneficiary if the client fails to fulfill their obligations.
Definition of "Bank Guarantee" as a payment guarantee
This definition ties "Bank Guarantee" to ensuring payments.
"Bank Guarantee" means a promise by a bank to ensure payment to the beneficiary if the client defaults on their payment obligations.
Definition of "Bank Guarantee" as security in procurement contracts
This definition connects "Bank Guarantee" to procurement.
"Bank Guarantee" refers to a financial assurance provided by a bank to secure payments or performance in procurement contracts.
Definition of "Bank Guarantee" as a support mechanism for exporters
This definition links "Bank Guarantee" to exporters.
"Bank Guarantee" means a financial instrument that supports exporters by guaranteeing payments from importers.
Definition of "Bank Guarantee" as an instrument for public tenders
This definition applies "Bank Guarantee" to public tenders.
"Bank Guarantee" refers to a financial tool used to secure bids or performance in public tenders.
Definition of "Bank Guarantee" as protection for real estate transactions
This definition ties "Bank Guarantee" to real estate.
"Bank Guarantee" means an assurance by a bank to compensate the buyer or seller in case the other party defaults in a real estate deal.
Definition of "Bank Guarantee" as support for infrastructure projects
This definition connects "Bank Guarantee" to infrastructure.
"Bank Guarantee" refers to a financial assurance used to support funding and performance in infrastructure projects.
Definition of "Bank Guarantee" as a credit line back-up
This definition links "Bank Guarantee" to credit back-up.
"Bank Guarantee" means a financial promise by a bank to back the client's credit obligations in case of non-fulfillment.
Definition of "Bank Guarantee" as a liquidity support tool
This definition applies "Bank Guarantee" to liquidity.
"Bank Guarantee" refers to a tool that ensures liquidity by providing financial assurance to the beneficiary if the client defaults.
Definition of "Bank Guarantee" as advance payment security
This definition ties "Bank Guarantee" to advance payments.
"Bank Guarantee" means a financial commitment by a bank to return advance payments if the client fails to deliver agreed-upon goods or services.
Definition of "Bank Guarantee" as construction project assurance
This definition connects "Bank Guarantee" to construction projects.
"Bank Guarantee" refers to an assurance provided by a bank to secure payments or performance obligations in construction contracts.
Definition of "Bank Guarantee" as international trade facilitation
This definition links "Bank Guarantee" to international trade.
"Bank Guarantee" means a financial tool used to promote trust and mitigate risks in international trade transactions.
Definition of "Bank Guarantee" as protection against insolvency
This definition applies "Bank Guarantee" to insolvency protection.
"Bank Guarantee" refers to a financial promise ensuring the beneficiary receives compensation if the client becomes insolvent.
Definition of "Bank Guarantee" as bid security in tenders
This definition ties "Bank Guarantee" to bid security.
"Bank Guarantee" means a financial assurance that protects the tendering authority if the bidder withdraws or fails to honor the bid.
Definition of "Bank Guarantee" as safeguard in service contracts
This definition connects "Bank Guarantee" to service agreements.
"Bank Guarantee" refers to a bank's promise to compensate the service recipient if the service provider fails to perform their contractual obligations.
Definition of "Bank Guarantee" as protection in leasing agreements
This definition links "Bank Guarantee" to leasing.
"Bank Guarantee" means an assurance provided by a bank to cover a lessee's payment obligations in case of default.
Definition of "Bank Guarantee" as support for joint ventures
This definition applies "Bank Guarantee" to joint ventures.
"Bank Guarantee" refers to a financial tool ensuring that joint venture partners meet their financial commitments.
Definition of "Bank Guarantee" as customs duty assurance
This definition ties "Bank Guarantee" to customs duty.
"Bank Guarantee" means a financial commitment by a bank to secure payment of customs duties or taxes on behalf of a client.
Definition of "Bank Guarantee" as tax payment security
This definition connects "Bank Guarantee" to tax security.
"Bank Guarantee" refers to an assurance ensuring timely payment of taxes by the client to the tax authorities.
Definition of "Bank Guarantee" as loan repayment assurance
This definition links "Bank Guarantee" to loans.
"Bank Guarantee" means a promise by a bank to repay a loan on behalf of the borrower if they default.
Definition of "Bank Guarantee" as equipment lease protection
This definition applies "Bank Guarantee" to equipment leasing.
"Bank Guarantee" refers to a financial commitment ensuring payment obligations under an equipment lease agreement.
Definition of "Bank Guarantee" as legal settlement security
This definition ties "Bank Guarantee" to legal settlements.
"Bank Guarantee" means an assurance provided by a bank to secure payment obligations arising from legal judgments or settlements.
Definition of "Bank Guarantee" as earnest money deposit security
This definition connects "Bank Guarantee" to earnest money deposits.
"Bank Guarantee" refers to a financial assurance securing the return of earnest money in real estate or tender transactions.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.