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Bank guarantees have often-though not -always-a different
meanIng frolli traditional contract of guarantee; it Ineans a primary and independent undertaking by the guarantor to pay if
the conditions of the guarantee are satisfied. In the words of SOllie
English judges, the word "guarantee" in this expression is often used in other than its legal sense, it simply means "undertaking".
This essay, as the main aiIn, analizes the characteristics, and SOine practical problems resulting from abuse of bank gurantees.