Types of Bank Guarantees:
Guarantees for participation in tenders - issued in favor of the organizer of the tender and guarantee the conclusion of a contract by the ordering party or the fulfillment of the offer submitted by the ordering party
Advance payment guarantees - issued to guarantee the return of an amount received in advance under a contract between the ordering party and the beneficiary
Performance guarantees - issued to guarantee the exact fulfillment of the obligations of the ordering party under a contract with the beneficiary
Payment guarantees - issued to guarantee the payment of the ordering party in favor of the beneficiary, under a contract concluded between them
