Start learning 50% faster. Sign in now
A credit guarantee is a form of insurance that helps to protect the interests of a seller from the chance of non-payment by a buyer. This type of coverage is often utilized when goods are imported, affording the exporter a degree of protection that would be difficult to achieve otherwise. In some cases, this type of guarantee is extended through a governmental organization. At other times, the credit guarantee is made available through banks that manage import and export transactions. The exact structure of a credit guarantee depends on the governmental regulations that govern the transaction. In a situation where both the buyer and the seller are located in the same nation, it is not unusual for this type of coverage to be issued in what is known as a letter of guarantee. This is simply a legal document that affirms that if the buyer fails to tender the agreed-upon compensation for a purchase, that the insurer will honour the debt. A letter of guarantee may be in the form of a personal guarantee provided by an interested third party, or by a financial entity that has extended a line of credit to the buyer.
1. Recently USA suspended $ 255 mn financial aid to a country under the charge of not doing enough to curb extremism and terrorism. The count...
Current Union Minister of Social Justice and Empowerment is:
Who is known as the 'Father of Geometry.
"New Population Bomb" means :
Kelucharan Mohapatra is renowned for which classical dance form?
Examine the following statements about Lakshadweep:
(I) Lakshadweep consists of 12 atolls, 3 reefs, and 5 submerged banks.
(II) All 17 isl...
_____________ announced the launch of Startup Innovation Challenge in partnership with Invest India under which early-stage technology companies are bei...
When is World Oceans Day observed?
What is the name of Subhash Chandra Bose Autobiography?
What conditions lead to the formation of Pyrocumulonimbus clouds?