Monetary Policy Report Press Release: December 2017 BOX Monetary Policy Report Implications of the electronics technology life-cycle and the rise of the Internet of Things for Asiaâs exports Developments in the unrated bond market and implications for financial stability
What is the difference between a surety bond and a bank guarantee? Surety bonds are typically conditional whereas bank guarantees are on demand. Only the performance risk lies with the surety, where the bank has the financial risk on the construction project.
Although the Warranty, Guarantee and Certification Clauses in a construction contract differ in the rights and obligation each provides, ultimately they work in concert to ensure that the obligations of each contracting party equal the other partyâs expectations.