Letters of Bank Guarantee

  • Initial Letter of Guarantee: To participate in governmental and non-governmental bids, tenders, and auctions, these ensure the seriousness of the submitted offer and confirm the adequacy of the bidder’s financial position.
  • Final Letter of Guarantee / Proper Implementation: To ensure the performance of the work required and agreed upon with the owners of the submitted proposals, and guarantee the proper implementation and the performance safety.
  • Advance Payment Letter of Guarantee: When the contract awarded to the customer requires financial capabilities unavailable to him, he can request from the body awarding the contract part of its value to assist him in the implementation, in exchange for a letter of bank guarantee with the same amount and currency.
  • Financial Letter of Guarantee: A commitment from the Bank to guarantee the customer at the body requesting the letter of guarantee, when the customer is unable to implement the conditions agreed upon between them, and for the different purposes and objectives thereof.

Shipping Letter of Guarantee:

This letter will be issued at the customer’s request if the goods arrive at the port, while the original documents are delayed. The Issuing Bank undertakes to place the original bill of lading upon its arrival at the disposal of the carrier of the goods; in exchange for recovering the shipping letter of guarantee from him. The carrier will be exempt from any liability resulting from the delivery of the goods to the importer, who in turn pledges to the Issuing Bank to guarantee the acceptance of the documents upon their arrival, regardless of any differences therein.

Letters of Credit

To promote the trust and peace-of-mind between the (local or international) importers and suppliers in their dealings with each other, reduce the risks associated with exchanging letters and conducting financial transactions, and verify their compatibility with the Letter of Credit conditions.

Collection Documents

It is used as a substitute for the letter of credit and often between the suppliers and exporters, who have an established business relationship among each other; i.e. operations for the exchange of goods / commodities by creating commercial papers that must be collected according to the agreed deadlines.

For more information, please contact us via toll free number 800 244 9090, or you may Request a meeting or call with Relationship Manager