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Has ministerial responsibility lost its effectiveness in Canada?
Bank Guarantees
Bank guarantees are assurances provided by a bank on behalf of a client to guarantee the fulfillment of financial obligations to third parties.
Commercial Draft
A written order from one party to another, directing the payment of a specified sum of money to a third party, often used in trade.
Banker's Acceptance
A short-term debt instrument issued by a company but guaranteed by a bank, commonly used in international trade.
Trade Acceptance
A written promise or a draft by one party, the seller, to another, the buyer, to pay a specified sum of money at a future date.
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