about
Promise,
L/G), also known as letter of guarantee, refers to a written credit guarantee certificate issued by a bank, insurance company, guarantee company or individual to a third party at the request of the applicant. Guarantee that when the applicant fails to perform the responsibilities or obligations as agreed by both parties, the guarantor will perform certain payment responsibilities or economic compensation responsibilities for a certain amount and within a certain period.
A guarantee is a guarantee. For convenience, shipping companies and banks have printed a certain format of guarantee. Its functions include delivering goods by letter of guarantee, issuing clean bills of lading by letter of guarantee and countersigning advance bills of lading by letter of guarantee.
A company guarantee is a guarantee issued by a company.