30 June 2008
1.It is not possible to take loan against bank guarantee, the reason being the BG is infavour of you. If you can manage tto provide a BG in favour of the bank who is lending money, then it may be possible.
2.Bank guarantee is not transferrable 3.You can revoke the BG by sending the original BG to the issuing bank under your covering letter requesting the bank to issue a demand draft for the sum equal to the amount of BG in favour of you.
The issuing bank cannot transfer their liablity to another bank.
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