Transcription of GUARANTEES AND CO-ACCEPTANCES …
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GUARANTEES AND CO-ACCEPTANCES …
1 GUARANTEES AND CO-ACCEPTANCES guidelines ( general ) Bank GUARANTEES (BG) comprise both performance GUARANTEES (PG) and financial GUARANTEES (FG) and are structured according to the terms of agreement viz., security, maturity and purpose. Banks should confine themselves to the provision of FG and exercise due caution with regard to PG business. As a general Rule, bank GUARANTEES shorter maturities and leave longer maturities to be guaranteed by other financial institutions. Bank GUARANTEES should not normally extend beyond 10 years.
1 GUARANTEES AND CO-ACCEPTANCES GUIDELINES (GENERAL) • Bank Guarantees (BG) comprise both performance guarantees (PG) and financial
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