How Bank Guarantee Letter Could Help Secure a Transaction and Risks Involved?

In the process of performing civil transactions, there is a need to bind the performance of obligations of the parties hence secured transaction is needed and guarantee is one of the commonly used methods to secure the performance of obligations in business and commercial activities.  The party that provides guarantee is normally a commercial bank and bank guarantee is normally a loan service.  In reality, there are potentially many  risks involved  in the guarantee transaction through issuing of bank guarantee letter which needs the attent…