Letter of Credit Forum

Dear Sirs,

could you kindly explain what is the difference between a BG and an LG?

Is true saying that in Greece there are special rules attesting that only LG can be opened by the buyers with office in Greece?

I give you an example:

I asked for a BG cashable against a copy of invoice and our written request for payment in case of the customer will not fulfilled its obligation of payment.

The customer opened a BG asking for transport and shipping documents, these documents must be issued in a certainly way, as indicated in the Guarantee, and in any case all the docs. must be presented to the customer's bank. I was informed that this depend of Internal rules of Greece but this explanation does not convinced me.

In my opinion a BG or LC (I don't think there is differences) must be as simple as possible to be cashed, because in any case if a supplier is forced to cash a BG or LG is only because the buyer failed its obligation.

Thank you very much to all and to Letter of Credit Forum.