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BANKING Sujit Kumar Sharma  Jun 8 2021 10:30AM

What is the difference between bank guarantee and letter of credit?

Madhu Kapoor  Jun 11 2021 10:59AM

What is the difference between bank guarantee and letter of credit?

There is not much difference between bank guarantee and letter of credit as they both take the liability of payment. A bank guarantee contains more risk for a bank than a letter of credit as it is protecting both parties the purchaser and seller.

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