Bonds and guarantees give international customers extra confidence that sellers will meet their part of a deal. It has become increasingly common, particularly in international trade, for a buyer to request that a bank guarantee or bond be provided on behalf of their seller. This provides a means of securing performance or other obligations under the terms of a contract. They provide the beneficiary with access to a sum of money should the seller fail to fulfil contractual or other obligations in respect of an underlying transaction, contract or order.
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