My dear friend,
Thanks for the (angry) reply.
I think you might don't know about the Banking procedure, or may you missing somthing. It's alright..
I w'ld like to make some informative discussions with you about the term 'Bank Gurantee' (BG), that
- the BG is a Non-fund based Credit Facility provided by the Bankers.
- for which they ask for depositing actual amount equal to BG Limit (either directly transfer from their Current Account or else)
- it is purely interchangable Credit facility within other Credit Facilities santioned to their specific customer
- and lastly they ask for the security which is in the form of the deposited amount
(I know and also agree with you that in case of Corporate gurantee, as per the Banker's terms & conditions you must provide the charge over the assets of the Company)
But in case, their is no such assets, i. e. the deposited amount either from the own pockets of the compny or out of the other Credit facilities (loans) disbursed to the company by the Banker.
Please try to understand this situation n guide. (if possible, I c'ld pay you for that, honestly)
Advt. Ashish Karandikar
Mobile #: +91 0 9850903959