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Bank guarantee

A contract between a bank (as guarantor) and a beneficiary, in which a bank commits itself to pay a certain amount of money under certain specified conditions. A demand bank guarantee is one in which the bank agrees to pay…

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Bareboat charter

The lease (charter) of an entire vessel under an agreement whereby the lessor only provides the bare vessel; that is, operation of the vessel is not included in the lease, and the charterer must arrange to hire a ship´s master…

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