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Letters of guarantee

Letters of guarantee - Slider

Letters of guarantee

The letters of guarantee issued by BRD are a proof of reliability for your business partners abroad.

Guaranteeing the meeting of obligations towards contractual partners (clients, suppliers)
Correlating the validity of the guarantee with the terms of the contract signed with third parties, but for no more than 10 years
Facilitating the domestic and international commercial relations, BRD being known for its extended network of banking correspondents abroad.

The letters of guarantee are the ideal solution for your business if...

the company participates in calls for tenders, performs works the quality of which must be guaranteed, etc.

What types of guarantee does BRD provide?

The bank provides the following types of guarantees:

Bid bond
Advance payment guarantee
Performance bond
Payment bond

How are the letters of guarantee issued?

These guarantee letters are issued individually or under guarantee ceilings, if the requests for guarantee are multiple and recurrent.

Letters may be issued on paper or through the SWIFT Channel, in lei or in foreign currency.

The validity of a guarantee is correlated to the contractual provisions between the company and the partner, but it cannot exceed 10 years.

What are the required guarantees?

The guarantees requested upon the issue of the bank guarantee letters may be deposits, mortgages on movable and immovable assets, guarantees issued by guarantee funds, etc.

Can you issue letters of guarantee in foreign currency, as well?

Yes, the guarantee offer of the bank is available both in Lei and in foreign currency.

Can a client ask for the issuance of several letters?

Yes, depending on the specificity of the company's business, we can issue letters of guarantee individually or under ceilings.

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