DISTRIBUTED LEDGER TECHNOLOGY AND BANK GUARANTEES FOR COMMERCIAL PROPERTY LEASING

Bank guarantees — that is, a bank’s unconditional undertaking to pay one party in the event of another’s default — are used across many industries to secure contracts, be it in the trade of goods and services, financial transactions, industrial projects, the development of property, or the leasing of assets. Bank guarantees are commonly used by prospective tenants to secure commercial property leases in lieu of a cash deposit or rental bond.
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