If a shortfall undertaking or letter of comfort has a clause which says that the holder company will be liable to discharge the obligations to the lender in case of default of lender, does it amount to a guarantee.?
Clarify.
Flora Nirmala (Senior Manager) 13 October 2011
If a shortfall undertaking or letter of comfort has a clause which says that the holder company will be liable to discharge the obligations to the lender in case of default of lender, does it amount to a guarantee.?
Clarify.
Surendra Gupta (Banker) 25 October 2011
yes. You are right. It is guarantee
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