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Unit – 13 : Deferred Payment Guarantee
Deferred Payment: Payment by installments of the price of goods or service without interest.
Deferred Payment Guarantee: A is an unconditional and irrevocable guarantee issued by the bank assuring payment in installments and interest on due dates. DPGs are usually insisted upon when capital goods are imported and seller/exporter requires an additional assurance that the instalment payment allowed by him to the buyer/importer is met.
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