Bank guarantee and credit insurance

Bank guarantee. Today, on the market, more and more companies are giving you false bank guarantees that seem issue from 1st rate banks (like Barclays, Fortis...). The only solution to avoid such problem is to only accept standby L/C issued from 1st rate banks. A L/C is transferred from the customer bank to the supplier bank through swift. Also all the companies should know that bank guarantee could be issued only for certain sum after signing the contract. It can’t be unlimited or done before the contract is signed. And you should call the bank and ask about this guarantee. Also you should show it to your bank operator. All these steps will help you to understand if the papers are false. Credit insurance. An insurance company is giving you a certificate telling you that the insurance will pay you if your customer is not paying. Some French carriers accept those certificates (after check on the insurance cpy in Dun & Bradstreet, where the cpy exist with big assets). The carriers were never paid because everything was false.