It is true that business sometimes needs to GUARANTEE payments and a bank guarantee allows the customer, or debtor, to get goods, buy equipment or draw down a loan. Well, there are different kinds of bank guarantees, including direct and indirect guarantees. However, most people choose Direct Bank Guarantee in Thailand because the direct bank guarantee is a guarantee which is issued by the bank of the account holder directly in favour of the Beneficiary. Are you curious? Well, in today’s article, we will discuss the advantage of bank guarantees in Thailand with an example. Please, carry on reading the upcoming passage to learn more. Bank Guarantees in Thailand A bank guarantee is a lawful agreement, it covers the liabilities of a borrower in case of the debtor’s loss to fulfil proper commitments with another company. It is commonly given by the commercial banks to parties engaged in agreements with foreign or unknown parties, but this system will be valid for a definite peri