Bank guarantee / L/G

What is Bank guarantee / L/G?

A bank undertaking to pay if one party defaults, sometimes required from a new distributor in place of a large deposit. Also issued as a shipping guarantee so cargo can be released before the original bill of lading arrives.

At a glance

Category

Trade & logistics

Also known as

은행보증서

Korean term

은행보증서

Last reviewed

July 23, 2026

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