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Payment Guarantee Means_ Code. Type/Code. Content |
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Full CL |
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Factor guarantee |
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Payment of an invoice is made by a factor under the guarantee he issued to seller or to another factor. |
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Bank guarantee |
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A bank has agreed to stand as guarantor to ensure that payment is made. |
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Public authority guarantee |
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A public authority has agreed to stand as guarantor to ensure that payment is made. |
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Third party guarantee |
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The party who has agreed to stand as guarantor to ensure that payment is made is neither the payee nor the payer. |
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Standby letter of credit |
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The guarantee of payment is in the form of a standby letter of credit. |
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No guarantee |
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No guarantee of payment has been made or is available. |
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Goods as security |
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The payer has provided possession of, or title in goods, as security against payment. |
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Business as security |
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The payer has provided title in, or a lien over a business whose assets may be sold or sequestered, as security against payment. |
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Warrant or similar (warehouse receipts) |
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The payer has provided a warrant or warehouse receipts for goods or property to be held or used as security against payment. |
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Mortgage |
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The payer has provided a mortgage as security against payment. |
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Insurance certificate |
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A certificate of insurance has been provided as a guarantee of eventual payment. |
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Mutually defined |
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A code assigned within a code list to be used on an interim basis and as defined among trading partners until a precise code can be assigned to the code list. |
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