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please tell me about Advance Bank Gurantee & Performance
Bank Gurantee
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Answer Posted / s.p.patil
Ans:- 1)Advance Bank Guarantee is obtained from the
contractor for security measures to perform contract within
time frame as per terms and condition of the contract.
2)The contract Performance Bank Guarantee is intended to
secure the performance of the contract for guarantee period
of the equipments supplied. However . 100% payments will
be released only after submission of Perfromance Bank
Guarantee only.
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