Dear All,
Being as a Buyer, I have paid one of my, well known, suppliers a certain amount as a down payment against bank guarantee valid for one year.
After some time my supplier changed his trading name, while the ABG is still valid and every thing was O.K.
Now, there are still some materials not yet shipped and, the ABG is approaching its expiry, hence, I would like to extend the validity of ABG so,
Is it necessarily to request my supplier to change the name mentioned in the bank guarantee to his new name?
Is it possible to liquidate the bank guarantee with its present situation?
Please advise
Best regards,
Ghubshawi
Liquidating Your BG
Ghubshawi
I can assist you with your BG issues. Please contact me BIBRVP@gmail.com
Bank Guarantee
Dear Gubshavi
The extension is of the Bank guarantee and bank obviously will incorprate the new name of the supplier along with stating' formerly so and so'.
Also there should be no ground for not liquidating the guarantee due to change of name of the company.
Preeti