Advance payment guarantee: Difference between revisions
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imported>Doug Williamson (Expand definition. Source: Advance payment bond page.) |
imported>Doug Williamson (Layout.) |
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* [[Customs bond]] | * [[Customs bond]] | ||
* [[Guarantee]] | * [[Guarantee]] | ||
* [[Letter of credit]] | |||
* [[Performance bond]] | * [[Performance bond]] | ||
* [[Retention bond]] | * [[Retention bond]] | ||
* [[Standby letter of credit]] | |||
* [[Surety]] | * [[Surety]] | ||
* [[Surety bond]] | * [[Surety bond]] | ||
* [[Tender]] | * [[Tender]] | ||
* [[Trade finance]] | * [[Trade finance]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 11:33, 4 April 2021
Trade finance - credit support.
An advance payment guarantee is a guarantee supplied by a party receiving an advance payment, to the party making the advance payment.
The advance payment guarantee is issued by a bank or insurance company in favour of the potential customer, to protect the customer against a contractor's failure to fulfil the contract satisfactorily.
It guarantees that the advance payment will be returned if that happens.
Also known as an advance payment bond.
