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The demand guarantee bridges the "gap of distrust" that exists between the parties. When the bank issues the demand guarantee, the beneficiary deals with a party whose financial strength he can trust and a party which would pay upon first demand regardless of an existing dispute between the parties on the performance of the underlying contract. [5]
Among other things, the value of Ke and the Cost of Debt (COD) [6] enables management to arbitrate different forms of short and long term financing for various types of expenditures. Ke applies most prominently to companies that regularly generate excess capital (free cash flow, cash on hand) from ongoing operations.
Standby letter of credit (SBLC): Operates like a commercial letter of credit, except that typically it is retained as a standby instead of being the intended payment mechanism. In other words, this is an LC which is intended to provide a source of payment in the event of non-performance of contract.
Hong Kong has turned into a hub for many violations of U.S. trade controls, including export of controlled Western technology to Russia and the creation of front companies to buy Iranian oil, the ...
The origins of many fundamental concepts of LEAN and LEAN construction date back in time. 1. The origins of foundational LEAN concepts can be traced back to the 1450s in Venice, but the concept is often associated with Henry Ford and Toyota in the 20th century. LEAN was first applied in “modern day” production management by He
The College Football Playoff bracket is finally set and Caroline Fenton, Jason Fitz & Adam Breneman react to the final rankings and share what things the committee got right and which were wrong.
A Colorado school bus driver allegedly abandoned 40 elementary school-aged students at the wrong stop on Monday, leaving them frightened in the cold and dark, school officials and students say.
In a project network, a dependency is a link among a project's terminal elements. [citation needed]The A Guide to the Project Management Body of Knowledge (PMBOK Guide) does not define the term dependency, but refers for this term to a logical relationship, which in turn is defined as dependency between two activities, or between an activity and a milestone.