Term of Day
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Term of Day
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Letter of indemnity
issued by a
to a third party,
on behalf of
and against the customer's counter-guaranty as a
. A bank, for example, may
to a shipping
protecting it from any
or loss arising out of the
(bank's customer) has lost or misplaced
, a bank guaranty (as a
or performance bond) is an essential requirement for the
letter of credi...
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