Letters of Guarantee

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

Facilitating

the internal and international commercial relations

Types of guarantees

The bank provides the following types of guarantees:

- Bid bond
- Advance payment guarantee
- Performance bond
- Payment bond


How are the letters 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 for no longer than 10 years.
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.

Frequent questions

Can a client request the issuance of several letters?
Yes, depending on the specificity of the company's business, we can issue bank guarantee letters individually or under ceilings.