The beneficiary or favouree is the party who receives the bank guarantee and can 'call' on it if payment of the money is required or contractual obligations are not being performed.

The beneficiary or favouree is the party who receives the bank guarantee and can 'call' on it if payment of the money is required or contractual obligations are not being performed.

The beneficiary or favouree is the party who receives the bank guarantee and can 'call' on it if payment of the money is required or contractual obligations are not being performed.

The beneficiary or favouree is the party who receives the bank guarantee and can 'call' on it if payment of the money is required or contractual obligations are not being performed.