Today, on the market, more and more companies are giving you false bank
guarantees that seem issue from 1st rate banks (like Barclays,
Fortis...). The only solution to avoid such problem is to only accept
standby L/C issued from 1st rate banks. A L/C is transferred from the
customer bank to the supplier bank through swift. Also all the companies
should know that bank guarantee could be issued only for certain sum
after signing the contract. It can’t be unlimited or done before the
contract is signed. And you should call the bank and ask about this
guarantee. Also you should show it to your bank operator. All these
steps will help you to understand if the papers are false.
An insurance company is giving you a certificate telling you that the
insurance will pay you if your customer is not paying. Some French
carriers accept those certificates (after check on the insurance cpy in
Dun & Bradstreet, where the cpy exist with big assets). The carriers
were never paid because everything was false.
We hope you find this article helpful !