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  • Legal and Regulatory Aspects of Bank (JAIIB)- 5
  • Guarantee is issued in the favour of
Multiple choice

Guarantee is issued in the favour of

  1. issuer

  2. banker

  3. indemnifier

  4. beneficiary

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Guarantee is issued in favour of the beneficiary, who requires security against the risk of the principal’s non-performance or default under the primary contractual obligation.

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