Reply To: Are Bank Guarantees worth the paper they’re written on?

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Anonymous
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Hi MG,

The ones that we get for our clients from Cam Bank are always property specific and part of the guarantee is that the property must be delivered on its contracted date. Every property completion date we give is always long so the issue of a late delivery has never happened.

I suspect other banks would use other wording and start to wriggle, particuarly if they are not sure of the developers ability to complete the project.

Bernard