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HI

What is the difference between bank guarantee and performance bank guarantee

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  • author's profile photo Former Member
    Former Member
    Posted on Jun 17, 2008 at 08:53 AM

    Hi,

    Bank gurantee is generic and Performance one is specific. PBG is a type of BG. You can have other types of BG also like Advance BG etc. In case of PBG, we gurantee that if performance requirements are not met with, the party can encash the PBG.

    Regards

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