Question

Which of the following statements regarding bank guarantees is true?

A Bank guarantee is a financial instrument issued by a bank to ensure payment or performance obligations on behalf of a customer.
B Bank guarantee is a loan provided by a bank to a customer at a specified interest rate.
C Bank guarantee is a type of insurance product offered by banks to protect against financial losses.
D Bank guarantee is a document issued by a bank to certify the creditworthiness of a customer.
E Bank guarantee is a term used to describe the process of opening a new bank account.
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