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02:14 Nov 6, 2008
English to Chinese translations [Non-PRO] Bus/Financial - Finance (general)
Subsequent sales of Bank Guarantees to third parties make them a “seasoned instrument”. There is no such thing as a “slightly seasoned instrument”. Bank Guarantee Instruments are either “fresh cut” which is a new issue to the bank's client that has never been sold to anyone yet or registered with a buyer or they are “seasoned” which is an instrument that has already had a registered owner. The prices of these seasoned instruments depends on the quality of the issuing bank (Bank Guarantees issued by AAA+ banks command a premium) and may be sold typically at 85 to 97% of the face value in these subsequent sales.