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     EduGorilla 
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    Which of the following statements is/are correct?

    Options :-

    1. A third party, mostly banks and financial institutions, gurantees the payments of the installments.
    2. This guarantee ensures timely payment of the instalments to the seller/exporter, failing which, the guarantee can be invoked and payment received.
    3. To understand better the deferred payment guarantee, it is necessary to understand how a payment is made in a deferred payment contract and how the same is guaranteed by a bank.
    4. All of the above are correct.
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