ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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LETTER OF GUARANTEE Definition
LETTER OF GUARANTEE is a written promise issued by a bank to compensate (pay a sum of money) to the beneficiary (third party, local or foreign) in the event that the obligor (customer) fails to honor its obligations in accordance with the terms and conditions of the guarantee/agreement/contract.
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FORCED LIQUIDATION VALUE is the value at which the asset or assets are sold as quickly as possible, such as at auction.
VALUE PROPOSITION is the unique mix of product, price, service, relationship and image that a provider offers its customers. It determines the market segments to be targeted and how the organization will differentiate itself in those segments, relative to its competition.