Bank Guarantee Usage Among Businesses in The Bahamas

According to my questionnaire, 48% of businesses reported using bank guarantees as part of their financial strategy to reduce risk and secure transactions. This indicates a relatively high level of awareness among businesses in The Bahamas about the importance of such services. Bank guarantees can be used to secure performance contracts, loan agreements, and trade transactions, offering businesses a sense of security in their dealings.
However, 52% of businesses indicated that they do not use bank guarantees. This gap may reflect a reliance on less formal means of securing deals or a lack of awareness of the benefits of bank guarantees.