BANK TO BANK PROFESSIONAL UNDERTAKING

United Kingdom

Updated: May 03, 2022

5 clauses


James Maina

James Maina

O.M.O Advocates

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Key description

  • A Letter of Undertaking (LOU) is a bank guarantee given by one bank to another bank on behalf of the customer for repayment of the loan. Mostly, the LOU is used when the person imports anything from a person, in another country.

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