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A guarantee from a bank that a buyer’s payment to a seller will be received on time and for the correct amount.
A guarantee from a bank that it will fulfill the payment obligations of its client to a third party in case the client fails to do so.
A promise from a bank to cover a loss if a borrower defaults on a loan, acting as a safety net for the loan recipient’s obligations.
A contractual assurance provided by a third party, ensuring the completion of a project or fulfillment of contractual duties as agreed.
A financial commitment by a bank to refund an advance payment made by the buyer to the seller, should the seller fail to meet their contractual obligations.
A document that verifies a person or entity has the financial ability to complete a transaction, often required in large purchases or investment deals.
Financial resources that are reserved or frozen in a bank account, typically due to regulatory requirements or transactional conditions, and cannot be freely accessed or transferred by the account holder.
Preliminary notifications sent by banks or financial institutions to inform the recipient about an upcoming transaction or document issuance, such as a letter of credit, before its formal processing.
A bank comfort letter is a document issued by a bank on behalf of its client to assure a third party of the client’s financial capability to meet contractual obligations.
Is a declaration typically used in business and finance to indicate that a party is prepared, willing, and financially capable of completing a specified transaction or agreement.
SWIFT services provide a secure and standardized global network for financial institutions to send and receive information about financial transactions, including payment instructions.
A type of bank guarantee that ensures the bidder on a project will enter into the contract if selected, and may include compensation for the project owner if the bidder fails to honor their bid.
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