Depending on the customer’s needs and terms and conditions of the contract, the bank can issue also other types of guarantees. For instance, for the customers using this product on a regular basis, it is possible to create a guarantee limit agreement for use with Swedbank, thus simplifying further issuing of bank guarantees. The customer is liable for the performance of the contractual obligations underlying the bank guarantee. The beneficiary will claim the payment under the guarantee only if the principal has failed to perform his obligations.
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