Guarantees and letters of credit
Ensure with simple, secure and quality cooperation with your business partners using guarantees and letters of credit
A guarantee is an instrument for the payment of contractual obligations in a business cooperation. If the debtor does not fulfill their obligations within the deadline, the Bank will take over the payment of the amount agreed upon by the guarantee.
A letter of credit is a payment instrument by which the principal contractor (customer) makes available a certain amount to the user (seller) of the letter of credit. The user can take the funds when they meet the agreed terms.