A guarantee is a commitment given by a bank to a third party
That ensures the successful conclusion of an obligation or commitment contracted by a client of the issuing entity
- Maximum speed in operations. Advice for your operations. Flexible product.
The principals types of this guarantee type are:
- Trading Warranty of Payment / Payment Guarantee: This type of guarantees guarantee the importer's fee-paying obligation (buyer) in contracts of supply.
- Advance payment Guarantee / Advance Payment Guarantee: This type of guarantees are requested by exporting companies that receive a payment for early. They guarantee the obligation of returning to the payee of the guarantee the advance payment in the event of not take place correctly the work or the service provision by the exporter.
- Financial Guarantee / Credit Facilitity Guarantee: They guarantee the fee-paying obligations that a company acquires when dealing with a financial institution that has granted him a loan or credit.
- Garantía de Retención de Pago / Retention Money Guarantee: This type of guarantees are needed to free one amount of the price that for contract is retained until the correct functioning of good or service is checked object of the purchase and sale agreement. It guarantees the quality obligations of the seller once the goods or services subject to the contract are delivered.