Discussion in 'Financial Terms' started by birder, Apr 17, 2008.
From a Chilean power of attorney document.
Hola, "boleta de garantía bancaria" es:
Bank guarantee: a document issued by a bank on behalf of a customer to pay the guaranteed party a certain amount of money if the customer fails to fulfil or improperly fulfils its obligations specified in the guarantee
Bid bond prevents the buyer from failure to fulfil a commercial bid as well as from inconsiderable bids;
Performance bond prevents the buyer from failure to perform obligations provided for in the agreement;
Advance repayment guarantee ensures the advance to be paid back to the buyer in case of failed transaction;
Payment guarantee ensures payment when due;
Quality guarantee ensures compensation for non-qualitative goods.
Separate names with a comma.