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34200662-International-Trade

34200662-International-Trade

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Published by Jeeta Leishangthem

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Published by: Jeeta Leishangthem on Apr 10, 2011
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11/21/2012

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Exporters are often called upon to execute bonds duly guaranteed by Indian banks

at various stages of export business. An exporter who desires to quote for a

foreign tender may have to furnish a bank guarantee for the bid bond. If he wins

the contract, he may have to furnish bank guarantees to foreign buyers to ensure

due performance or against advance payment or in lieu of retention money or to

a foreign bank in case he has to raise overseas finance for his contract.

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