A bank guarantee is a promise from a bank or lending institution that, if a borrower defaults on repayment of a loan, the bank will cover the loss to the landlord, whereas a bond is a deposit to keep a property in its original condition.
A bank guarantee is a promise from a bank or lending institution that, if a borrower defaults on repayment of a loan, the bank will cover the loss to the landlord, whereas a bond is a deposit to keep a property in its original condition.