What is bank gurantee type ?

Question

I mean here I have a company and the company total money that at bank is 2 Million USD but I want to do one cocoa business and they are asking me to provide bank Gurantee of 1 Million USD but I have projects that I need to do and it will cost me 1.8 Million USD ! so how I can talk to bank Manager in order for him to seucre me Bank Gurantee without touching my total cash value ? and if yes what the name of that type of Gurantee .

Answer 1

You appears to be ignorant on certain basic financial aspects of a business including those related to banking and its business products. The bank concerned must have indicated you the relevant BG for the purpose with its type, tenure, terms and conditions. Under the circumstances, you should hire the services of a professional to take you through not only these jargons but also get you good negotiations and deals. The fee to be paid to the professional would be worth the money vis-a-vis benefits and it would help you manage your affairs more efficiently.