Dictionary of Business Terms: guarantee letter
guarantee letter
letter by a commercial bank that guarantees payment of the exercise price of a client's put option if or when a notice indicating its exercise, called an assignment notice, is presented to the option seller (writer).
Dictionary of Finance and Investment Terms: guarantee letter
guarantee letter
letter by a commercial bank that guarantees payment of the exercise price of a client's put option (the right to sell a given security at a particular price within a specified period) if or when a notice indicating its exercise, called an assignment notice, is presented to the option seller (writer).
