BANKING SCHEMES

International Banking

Letter of Guarantee

Guarantee (however named by the guarantor) means any bond or payment undertaking given in writing by the guarantor (bank or insurance company or other body or person) at the request or on the instruction and under liability of a principal to discharge an obligation otherwise to compensate loss or damage sustained in the form of payment to a beneficiary on presentation of a written demand and such other documents in conformity with the terms and conditions of the guarantee.

Incoming Guarantee

Outgoing Guarantee