bank guarantee

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Bank Guarantee is a kind of guarantee from a lending organization. The bank guarantee signifies a lending institution ensures that the liabilities of a debtor is going to be met. In other words, if the debtor is unsuccessful to settle a debt, the bank will cover it. A bank guarantee allows the customer, or debtor, to acquire goods, purchase equipment or draw down a loan. A bank guarantee is a promise from a bank or other lending institution that if a particular borrower defaults on a loan, the bank will cover the loss. A bank guarantee is not the same as a letter of credit.

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    QLD Lodging QCAT for return/release of Retail Shop Bond (Bank Guarantee)

    We are trying to lodge a QCAT debt dispute, but aren't sure which is the right type of dispute for this situation. We fulfilled our end of a commercial leasing agreement - returned the premises to the condition they were in when the lease commenced - however it has been 3 months since the lease...
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    VIC Urgent advice - A big banks removal of guarantor

    I am one of four guarantors and share holders in a commercial loan with one of the big banks. The other three are also Directors, I am not. I was requested by the other three (company) to sign a removal of my guarantee and indemnity for the business loans with “the bank “ and on saying no ( due...
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    NSW Commercial Law - Am I Entitled My Bank Guarantee Back?

    Took over the lease in early 2015. Bought the plant and equipment off an old tenant. Got a bank guarantee as a rental bond. Exercised option to renew lease June 2015. The new lease had many changes apart from rent. I did not sign it. The landlord gave me the option not to sign. I went on a...