Questions & Answer

How to prove the letters of guarantee issued and handle the percentage of paid insurance?



The letter of guarantee

Answer:-

- The letter of guarantee shall be registered according to the type of guarantee whether (initial guarantee - final guarantee - guarantee advance payments)

- The date of issue and the expiry date of the letter of guarantee shall be determined

- The percentage of guaranteeing the letter of guarantee shall be determined in the agreed rate with the bank on which the amount deducted from the bank account shall be based

- In the case of the existence of bank commissions or bank expenses are recorded and identify the speech data of the project name and information related to the letter

- The accounting directive for issuing the letter of guarantee shall be as shown:-