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  • Author(s):
    Heongi Jeong

    Submitted to the Mendoza College of Business at the University of Notre Dame in the Partial Fulfillment of the Requirements for the Degree of Master of Business Administration

    There are three guarantees; demand guarantees, standby letters of credit, and surety bonds, that are used over the world to safeguard project owners when contractors fail to fulfill the performance. In the United States, surety bonds are usually required while, in Europe, demand guarantees or standby letters of credit …

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