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FrançaisA bond or guaranty, which has been issued as security for one party´s bid. If that party, known as the principal, wins the biding process and then fails to take up the resulting contract, the beneficiary may obtain payment under…
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An unconditional order in writing, signed by a creditor (drawer) such as a buyer, and addressed to another person (drawee), typically a bank, ordering the drawee to pay a stated sum of money to yet another person (payee), often a…
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