COMMERCIAL BANKING
Counter-guarantees issued to foreign beneficiaries » COMMERCIAL BANKING » FOREIGN TRADE » Counter-guarantees issued to foreign beneficiaries |
A counter-guarantee is issued to assure to a beneficiary abroad that commitments under the foreign trade operation will be fulfilled. In the event that the commitment is fulfilled on a timely basis and in accordance with the contract between two parties, the requested sum is paid to the beneficiary.
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