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FORMAT for BANK GUARANTEE for PERFORMANCE SECURITY

FORMAT for BANK GUARANTEE for PERFORMANCE SECURITY

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[Music] types of pink guarantee there are various type of bank guarantee which bank issues however here i am going to discuss about five common and major type of bank guarantee they are bid bone guarantee performance bond guarantee advance payment guarantee deferral payment guarantee and the last one is counter guarantee a bit bone guarantee is generally used in construction related business by contractor for bidding or tender process the party inviting attender or project owner asks contractor to provide the bid bond to ensure that the bid will not be withdrawn before tender result further it also assures the project owner that the bidder will undertake the contract if the bid was selected moreover big bone guarantee will be outstanding till the tender process or result so it is converted into performance bond open selection of bid and will be released upon rejection of bid hence bit bone guarantee is the type of guarantee issued by banks for bidding or tender process which assures pa

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