Commercial Loan Officer Question:
Download Questions PDF

Tell us what is the difference between bank guarantee and letter of credit?

Answer:

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.

Download Commercial Loan Officer Interview Questions And Answers PDF

Previous QuestionNext Question
Tell us what is commercial bank?Tell us what are the different types of Loans offered by Commercial Banks?