Loan
National Bank - Letter of Guarantee
Guarantees that the Bank will pay an amount to a designated beneficiary (client, supplier, regulatory agency or other business partner), upon request and according to the conditions set out in the letter, should you or a third party fail to meet your contractual obligations to that beneficiary.
- 4.5/5.0
- National Bank
- All levels
- Last updated 3 years ago
- English
Description
Guarantees that the Bank will pay an amount to a designated beneficiary (client, supplier, regulatory agency or other business partner), upon request and according to the conditions set out in the letter, should you or a third party fail to meet your contractual obligations to that beneficiary.
- To guarantee the payment to designated beneficiary in case one of the party fail to meet contractual obligations