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Demand Guarantee

Demand Guarantee Definition

Demand Guarantee is intended to protect one party in a transaction if another party does not perform according to predefined specifications. If the contract is not fulfilled as agreed, the first party will receive a compensation from the guarantor, which the second party will be required to repay.


Additional meaning of Demand Guarantee:

A demand guarantee provides protection against non-performance, late performance and defective performance. The guarantor is usually a bank or other financial institution.






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