New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    In a Bank Guarantee transaction, which parties are

    typically involved?
    A Issuing bank, applicant, beneficiary. Correct Answer Incorrect Answer
    B Buyer, seller, exporter. Correct Answer Incorrect Answer
    C Debtor, creditor, guarantor. Correct Answer Incorrect Answer
    D Trustee, shareholder, auditor. Correct Answer Incorrect Answer

    Solution

    Ans - The parties involved in a Bank Guarantee are the issuing bank, the applicant (party requesting the guarantee), and the beneficiary (party to whom the guarantee is issued).

    Practice Next