The Bridge Between Approval and Payout.

You got approved for a loan. But the check takes weeks to process. The seller wants assurance. The bank issues an LOG (Letter of Guarantee).

What It Says

It tells the seller/developer: “We have approved Mr. Cruz’s loan. Transfer the title to his name, submit it to us, and we PROMISE to pay you PHP 3M.” It is an I.O.U. from a bank, which is as good as gold.