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.
- Letters of credit opened by the bank - the documentary letter of credit is a commitment by the bank to pay a certain amount upon submission within a certain period of time of documents specified in the letter of credit, subject to certain conditions. It can be opened directly towards a beneficiary or through a correspondent of the bank.
- Advising letters of credit opened by correspondent banks in favor of the bank's clients. Consultation of the clients during the preparation of the documents for utilization of the amounts under the letters of credit.
- Export documentary collection - International method of payment initiated by the exporter who submits documents (commercial or financial) to their servicing bank with instructions to send the documents to the buyer's bank and release those against payment by the buyer
- Import documentary collection - Advising Bank's clients on documents received for import collection from correspondent banks or directly from companies. Making payments on received import collection documents.
* The bank offers all types of international payments
