Letters of guarantee from the bank for a real or corporate customer is a guarantee document that makes clear that the Bank will pay without condition to domestic or foreign official institutions or agencies or other real or corporate persons for the sum guaranteed in case of conditions are not met in certain circumstances such as doing some work, providing some goods or paying some debt.
Our Bank provides letters expressing for institutions or individuals an unconditional guarantee of payment, that they have credibility, and that if they cannot bring into fruition certain promises with regard to topics such as the provision of goods, the undertaking of work or the payment of a debt, that our Bank will perform it, for the benefit of firms with a loan limit.
Who Can Benefit From This Product?
All our customers in the Corporate and Entrepreneurial segments. In addition, for real persons temporary Letters of Guarantee may be arranged solely to meet Liquid Values.
Letters of guarantee may be of limited duration (predefined validity period) or indefinite.
- There are three types of Letters of Guarantee: temporary, exact and advance.
- Customers pay commission on letters of guarantee, either every cycle or in advance.
- The letter of guarantee will have the sum that the Bank may be liable for, the circumstances in which the conditions may be said not to be met, and will be paid on condition the letter is returned.
Which Documents Are Needed?
You can apply with the standard documents requested for trade financing applications.
How Can I Apply?
You can apply at your nearest Ziraat Participation Bank Branch.