cpc

bank guarantee


Dear Sir,

I have a Sole Proprietor firm. Now i'm in a situation wherein my customer is asking for Bank Guarantee to dispatch the advanced payment. But since i will be purchasing the materials from my vendor and ready to give advanced payment to my Vendor, i would be asking for Bank Guarantee as well. So, Please suggest whether is it possible to give a Reverse Bank Guarantee to my Customer on the Bank Guarantee recieved by me from my Vendor?

 
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Corporate Lawyer

Both the Bnak Guarantees issued to you and by you shall be seperate and shall not affect ecah other.


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RBI is not commercial bank to issue you bank guarantee. It is CENTRAL BANK to administer commercial banks. Hence it is not possible for seeking BG from RBI.

 
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