Distinguish between the following: 'Bank guarantee' and 'hypothecation'.

Bank Guarantee: A 'bank guarantee' is a guarantee given by a bank on behalf of its client or account-holder to another person with whom the client has entered into a contract to perform some job or to do and call upon the bank to pay the guaranteed amount in the event of the contingency, mentioned in the guarantee, happening or not happening, as the case may be. Hypothecation: As per section 2(n) of SERFAESI act, 'Hypothecation' means a charge in or upon any movable property, existing or future, created by a borrower in favour of a secured creditor without delivery of possession of the movable property to such creditor, as a security for financial assistance and includes floating charge and crystallisation of such charge into fixed charge on movable property.