Here you are going to study different types of bonds and guarantees, their purpose, the parties involved and how they operate. We will also discuss how bonds or guarantees are managed by banks. In this Learning Unit you are going to: - Learn what types of bonds and guarantees there are and how they operate; - Analyse advantages and disadvantages of different types of bonds/guarantees for exporters; - Discuss the parties involved and their responsibilities; - Examine how bonds/guarantees are managed by banks.