It is increasingly common for suppliers to ask for guarantees before concluding a contract. What could be more normal? But this type of guarantee can impact on your liquid funds. The money you block is temporarily unavailable. You cannot therefore use it to cover expenditure or pay salaries.
We have therefore developed the Bank Guarantee to meet your needs. We grant you a credit line to be used for issuing the bank guarantee(*). Your working capital is protected. The Bank guarantees your statutory, contractual and other obligations vis-à-vis a third party. The guarantee covers the beneficiary in the event that the risk specified in the contract occurs.
(*) Subject to acceptance of your application by the Bank.