Helping Small Businesses Like Yours

A bank guarantee means an agreement provided by a bank or other commercial entity that will take care of the bank or finance company's losses if a particular defaulter refuses to return a refund. The bank will guarantee the issuer through this bank guarantee that the bank will take care of them if the defaulter does not reach its duty. Advantage of Bank Guarantee   Go through the below mention points and you will easily understand the benefits of a bank guarantee. As a business person, if you apply for a bank guarantee, you will need to submit very few documents and you are not required to make the advance payment in case of a bank guarantee. Bank guarantee is an agreement or a promise between three parties - the bank itself, the applicant, and the beneficiary. It helps to have a beneficiary’s vetting for your business. As an owner of a restaurant, if you want to buy huge kitchen equipment from another company. The equipment vendor requires you to submit a bank guaran...

Standby Letter of Credit refers to an important financial tool important for every business owner. This tool assures the full payment on behalf of the bank if any client can't make the payment at the end. Hence, it is a great tool that can enhance the trustworthiness of any business owner. Understanding the importance of it, many business owners in Thailand show a great preference for the SLOC.  However, in the passage mentioned below, we make a brief discussion on Standby Letter Of Credit in Thailand. Continue reading and explore some significant information about it.  What Is a Standby Letter of Credit (SLOC)? SLOC also known as the Standby Letter of Credit is nothing but a legal document. The main aim of this document is to give a guarantee for the payment of the bank. This document assures that the bank will pay instead of the clients if they can’t make the payment.  This option helps in felicitating several international trades between different unknown compa...