Glossar Trade & Export Finance
The guarantee clause is the core component of any guarantee. It obligates the guarantor (bank), on behalf of the principal obligor (bank client), to pay a sum of money to the beneficiary. Payment must be made immediately upon first demand and independently of the underlying transaction.
To secure any claims by the buyer on the seller due to possible defects appearing after delivery.
The securing of any claims by the lender on the borrower due to failure to repay a credit line (loan etc.) in accordance with the terms of the underlying agreement.
Certificate of origin used under preferential trade agreements with developing and newly industrialised countries.
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