The difference between a surety bond and a guarantee is that: ...
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Finance
The difference between a surety bond and a guarantee is that:
A surety bond is issued by an insurance company and guarantees performance of the exporter while a guarantee is issued by a bank and compensates the importer in the event an exporter defaults on their contractual obligation
A surety bond is issued by a bank and guarantees performance of the exporter while a guarantee is issued by an insurance company and compensates the importer in the event an exporter defaults on their contractual obligation
A surety bond is issued by an insurance company and compensates the importer in the event an exporter defaults on their contractual obligation while a guarantee is issued by a bank and guarantees performance of the exporter
None of the above
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