In international project, what may be caused if the wording for a bank guarantee is incorrect?

Introduction

In the international project, there may be much difference in aspects of geography, culture, language and legal environment. The Principals, Contractors, Sub-Contractors, Suppliers and other participants tend to obtain some surety from third party, usually the bank to secure the relevant party’s fulfillment. Bank guarantee is generally regarded as one of the most importance. Continue reading →