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David Russi United States Local time: 05:23 Native speaker of: English, Spanish PRO pts in pair: 5305
That seems to fit best. Thanks everyone for your help
21 mins confidence: peer agreement (net): +1
bank guarantee bond
Explanation: 2 things: Is this for Panama? (My ref.)
Then, a bank guarantee bond works like a tender performance bond, but unlike the performance bond, may be deposited and drawn from as per maturity dates (20% first, then another 20%, for example). See if it's what you're looking for.