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Published in:
2019 | OriginalPaper | Chapter
17. Bank Guarantees and International Bonds
Authors : Tarsem Bhogal, Arun Trivedi
Published in: International Trade Finance
Publisher: Springer International Publishing
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Abstract
Guarantees and international bonds are two separate subjects. A guarantee is usually an undertaking given by a person/guarantor as security for a credit facility offered by a creditor/bank to a borrower. An international bond is an undertaking given by a bank or issuer at the request of its customer (contractor/supplier) in favour of a project owner or beneficiary/buyer in another country.