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Bank guarantee

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(Querist)
01 April 2009 Sir,

Pls expalin me what is bank guarantee and when is it needed.
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
01 April 2009 A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
01 April 2009 i agree with mr. lokesh
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