boletas de garantia bancarias

Discussion in 'Financial Terms' started by birder, Apr 17, 2008.

  1. birder

    birder Senior Member

    From a Chilean power of attorney document.
  2. rgbd Senior Member

    Uruguay / Spanish
    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.

  3. birder

    birder Senior Member

    Muchas gracias!

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