The Ministry of Labour liquidated bank guarantees worth more than AED 4 million to pay salaries of 1200 workers after their employer fled the country, reported news agency WAM The employees had not been paid for three months, reported WAM, citing a senior official.
What does BG stand for?
BG stands for Bank Guarantee
This definition appears very frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of BG
We have 61 other meanings of BG in our Acronym Attic
- Backup Generator
- Bad Game (gaming slang)
- Bad Girl
- Bad Guy
- Baldur's Gate (game)
- Bancada Guatemala (Guatemala political party)
- Band Geek
- Bangladesh Biman (airline code)
Samples in periodicals archive:
After sending many reminders to Nimbus, the BCCI sent a legal notice to Nimbus on November 16, 2010, asking it to make the payment within five days, failing which the bank guarantee would be revoked.
Menatelecom said it didn't cancel the agreement and wants the court to freeze the bank guarantee until the matter is settled.
Until 1st April 2013, Bids will be valid and a bank guarantee for 1% of requested bid value until 3 June 2013.
On Thursday, the IMG had recommended de-allocation of four mines allotted to private firms and encashment of bank guarantee of three others on the ground of non-development of mines within the prescribed time.
KABUL (PAN): Pakistan has agreed not to seek bank guarantee from Afghan importers for their goods landing in the port city of Karachi, enroute to the landlocked country, Afghan deputy Commerce and Industries Minister Muzammil Shinwari said on Tuesday.
A DAIL probe into what happened on the night of the bank guarantee will be able to force Brian Cowen to explain his role in the scandal.