When it comes to the performance bond issued by banks, it is commonly referred to as a bank guarantee. A performance bond acts as a form of insurance for the recipient of the guarantee in case the party responsible fails to fulfill their contractual obligations.

The concept of a performance bond is widely recognized and utilized in various industries worldwide. It provides assurance and financial protection for both parties involved in a business transaction or project. For instance, if a construction company fails to deliver the agreed-upon project within the specified timeframe or budget, the bank guarantee will entitle the client to compensation from the issuing bank.

Given its importance and the global scale of business today, it's essential to know how to express "走银行履约保函" in English accurately. The equivalent term often used is "bank performance bond." This phrase effectively conveys the intended meaning of ensuring contractual compliance through a bank-issued guarantee.

In practice, the use of a bank performance bond has become commonplace due to the increasing complexity and risks associated with modern business transactions. It mitigates the potential losses that may occur when one party fails to fulfill their obligations, providing a secure safety net for the other party.

To obtain a bank performance bond, the obligated party (often the contractor or service provider) must apply to a bank and provide the necessary documentation and collateral. The bank evaluates the applicant's creditworthiness and assesses the risk involved before deciding whether to issue the performance bond.

It's important to note that a bank performance bond should not be confused with a letter of credit. While they share similar functions as financial instruments used to manage risks in commercial transactions, a performance bond primarily focuses on ensuring adherence to contractual obligations, whereas a letter of credit guarantees payment to the seller. The key distinction lies in the purpose of each instrument.

In conclusion, the term "走银行履约保函" can be accurately translated as "bank performance bond" in English. This financial instrument provides security and protection for both parties involved in a business transaction, guaranteeing compliance with contractual obligations. Understanding the purpose and significance of a bank performance bond is crucial in today's global business landscape.