Performance guarantees and performance liquidated damages (PLDs) are an essential element of most engineering, procurement, and construction (EPC) contracts, especially those related to solar and ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Vikki Velasquez is a researcher and writer ...

Letters of credit are legal instruments providing a financial guarantee. They assure a beneficiary that payments will be made or nonfinancial obligations performed by a seller or provider. Standby ...

New Delhi: The petroleum and natural gas regulator has warned that it will encash bank guarantees and terminate contracts of city gas distributors if they fail to submit annual performance bond ...

When you get right down to it, performance guarantees have so many different definitions that the line of communications between negotiating parties can get in the way of an agreement, especially when ...

After joining forces in July 2019 to progress work on a blockchain-based bank guarantee platform, ANZ bank, the Commonwealth Bank of Australia (CBA), and Westpac announced, alongside IBM and shopping ...

A bank guarantee ("Bank Guarantee") is defined in Article 411 of the Commercial Transaction Law No. 18 of 1993 ("CTL") as "An undertaking issued by a bank to settle the customer's debt to a third ...