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.
If a surety's assent to a guarantee has been procured by fraud by the person to whom it is given, there is no binding contract. Fraud may consist of suppression, concealment or misrepresentation. However, only facts that are really material to the risk undertaken need be spontaneously disclosed.