BANK GUARANTEE (BG) PROVIDER
A Bank Guarantee (BG) is a financial product issued by a bank or financial institution, ensuring that a party's financial obligations will be met. It serves as a promise to pay a certain amount if the party requesting the guarantee fails to fulfill their contractual obligations. Essentially, a BG acts as a safety net for the beneficiary, ensuring they won’t suffer financial loss due to non-performance, default, or non-payment by the other party in a transaction.