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What is the difference between bank guarantee and letter of credit?
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A bank guarantee is a
commitment made by a finance
company that if a debtor fails to
repay a loan, the bank will pay
the amount. Meanwhile, letters
of credit are essential in
international trade, as it allows
two parties to transact without
worrying.

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asked Dec 10, 2022 in Loans by MD Hasan Xhmed (893 points)

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