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2 result(s) for "Guarantee"
FAQ
Does CGTMSE cover mean the loan itself is free?
No. CGTMSE only removes the collateral requirement by providing the bank a guarantee cover — the borrower still repays the loan with interest as per the sanctioned terms.
FAQ
Is a Letter of Credit the same as a Bank Guarantee?
No. An LC is a primary payment mechanism used to settle a trade, while a Bank Guarantee is a secondary commitment that is only invoked if the applicant fails to perform an obligation.