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Lexique

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Guarantee of performance bonds scheme : [28]

The compensation mechanism that covers performance bonds given by credit institutions in favour of business professionals. The FGDR takes the place of a failed institution when it is no longer able to honour, vis-à-vis the public, the performance bonds issued by it in favour of business professionals who are required by law to provide a guarantee to their customers.

 

See "Guarantee of performance bonds scheme [29]" on this site.

 

Source: FGDR