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dinakarj
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Engineering Fields - Mechanical Engineering - New Member

Join Date: Mar 2009
Posts: 56

Price

05/28/2009 6:15 AM

PBG for 10% of order value valid for warantee period

What does PBG stands for?

With Regards,

Dinakar.J
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jdretired
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Engineering Fields - Marine Engineering - New Member

Join Date: May 2007
Location: Australia.
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Good Answers: 81
#1

Re: Price

05/28/2009 6:28 AM

Google come up with:-

Performance Bank Guarantee.

Regards JD.
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zankruti
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India - Member - New Member

Join Date: Jan 2006
Location: Mumbai - India
Posts: 22
#2

Re: Price

05/31/2009 6:25 AM

PBG means performance Bank Guarantee This guarantee will be given your bankers to your customers for the value as specified by you / demanded by your customers. ( 10 % of the order values in your case !! ). This guarantee will be valid for a specified period as requested by you / by your customer. ( Normally for 1 year from the date of PBG ). YOur ank will ask you to deposit the margine money ofcertain percentage of the PBG values as security. This percenage will depend upon your credit reatings with the bank.

In case if your equipment is not performaing as promised by you, your customer will claim the amount ( 10 %of theorder value or the amount mentioned in PBG ) from your banker against this PBG and bank will pay them un conditionally.

V.S.Dave

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dinakarj
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Engineering Fields - Mechanical Engineering - New Member

Join Date: Mar 2009
Posts: 56
#3
In reply to #2

Re: Price

06/01/2009 5:15 AM

Dear Dave,

Thank you very much for your reply
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