A Bank Guarantee That Is Requested by a Beneficiary to Ensure

question 2

Multiple Choice

A bank guarantee that is requested by a beneficiary to ensure that the contractor is bidding in good faith and will enter the contract if awarded is called a(n)

• A) tender guarantee or bid guarantee.
• B) performance guarantee.
• C) maintenance guarantee.
• D) advance payment guarantee or repayment guarantee.
• E) None of the above

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Definitions:

John D. Rockefeller

An American industrialist and philanthropist who was a co-founder of the Standard Oil Company and became one of the world's wealthiest individuals.

Oil Trust

Historical term referring to monopolies or near-monopolies in the oil industry, specifically in the United States during the late 19th and early 20th centuries.

Airline Deregulation Act

A United States federal law passed in 1978 that removed governmental control over fares, routes, and market entry of new airlines, significantly reducing barriers to entry in the airline industry.

Civil Aeronautics Board

The Civil Aeronautics Board was a federal agency in the United States that regulated aviation services, including fares, routes, and schedules, before its dissolution in 1985.