Bank Guarantee 100 Percent
From Open Risk Manual
Bank Guarantee 100 Percent. (BG 100%) It is a type of Bank Guarantee which meets several conditions:
- It must be issued or guaranteed by 1 of the top 25 world financial institutions
- Be irrevocable, confirmed, and transferable.
- It must cover the entire amount of the contract.
- It must be payable on sight upon presentation of authentic shipping documents.