A guarantee is a security instrument by which the issuing bank assumes, at the behest of its client, an irrevocable obligation to pay a specified amount upon demand to the beneficiary of the guarantee as compensation for a failed payment or performance by its client on whose behalf the bank is acting.
Payable guarantees
We offer various types of payable guarantees, according to your needs:
- guarantee for securing payment in local currency
- guarantee for securing payment in foreign currency
- customs guarantees
Performance guarantees
In our offer, we have different types of performance guarantees, and in accordance with your needs:
- advance payment guarantee
- guarantee for participation in the tender
- guarantee for good performance
- warranty for the warranty period
- Loro guarantees issued in your favor, through your partner's bank, as assurance of fulfillment of contracted terms towards you.
Advantage for the user: In all their forms, guarantees provide the user with the certainty that they will be compensated by the bank for inaction or non-payment by an unscrupulous contractual partner.
Advantage for the principal: The principal, by using the name of his bank, secures a better position and negotiating conditions and protects himself from an unscrupulous user.
- The amount is approved upon the client's request, in accordance with the document that is the basis for issuing the guarantee and the creditworthiness of the applicant.
- The period for which it is approved is in accordance with the document that is the basis for issuing the guarantee.
- Security instruments in accordance with the guarantee amount