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Basing on the credibility of the individual or organization, Banker assures (assurance is no guarentee as per Law ?) and counter signs on their behalf as a second signatory. This is indemnity bond.
Banker takes margin money and basing on the limits available to the industry, banker issues bank guarentee. In this case, Banker is the first signatory which is more stronger in terms of payment to the concerned.
Any comments Please!....chandiprasad
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