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Bank Guarantees (BGs) and Letters of Credit (LCs) » mitigate risks in international trade but serve different purposes.
Letter of Credit (LC): Ensures supplier payment upon fulfilling conditions. Types include Import LC, Usance LC, Export LC, Irrevocable LC, and Confirmed LC.
Bank Guarantee (BG): Ensures contractual obligations, compensating losses from non-performance. Types include Bid, Performance, Advance Payment, and Shipping Guarantees.
Kyzer Software automates LCs, BGs, and e-BGs, ensuring efficiency, accuracy, and compliance in trade finance operations.
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