Bank guarantee

A bank guarantee is usually an obligation of the Bank of Israel to pay the landlord a sum of money subject to the conditions stated in the letter of guarantee.
The conditions for making the payment must appear in the letter of guarantee unless it is a completely autonomous bank guarantee to the seller, then anyone can receive the payment upon presentation of the guarantee.

He will prove the fulfillment of the said conditions in the letter of guarantee and will receive the said payment in the guarantee, even without first contacting the tenant and trying to be paid by him.

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