bankarska garancija

bankarska garancija

Legally binding document signed by the bank of a client guaranteeing payment of a sum up to a given amount to a specified third party if the client fails to meet his payment obligations. The bank guaranty gives the seller maximum security that he will receive his money. The client bears the costs of issuing the bank guaranty.

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Part of Speech: noun
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Industry/Domain: Banking
Category: Investment banking
Company: UBS
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