Letters of bank guarantee
They stand for a securing way of certain obligations to commercial partners, or other creditors, state entities.
Beneficiaries: Companies and authorized natural persons.
- minimal amount: n/a,
- maximal amount: RON 2,000,000 *,
- currency: RON, EUR,
- maximal lending period: 5 years.
* According to the sizing criteria of the bank and without exceeding RON 2,000,000 per client/group of clients.
The letter of bank guarantee can be requested for the following types:
- Letter of guarantee for participation in auctions – is requested by the companies participating in public auctions (as bidder) and the letter purpose is to secure a firm offer and the seriousness of Bidder participating in the auction, also being a participation condition;
- Performance bond – it is issued to secure the meeting by the authorizing officer/client the contractual obligation to deliver the goods/services qualitatively, quantitatively and in time;
- Letter of payment guarantee – its subject matter is to cover the obligations of the authorizing officer/client partially/totally pay the contractual price, set up as a counter value of the received goods or services;
- Letter of guarantee to return the downpayment– it is issued to secure the repayment of the downpayment received by the authorizing officer/client in case the default of contractual obligations aimed at goods delivery, execution of works or services performance;
- Letter of guarantee for custom taxes payment – it is used to secure the custom taxes and other budgetary receivables related to them due by the Authorizing officer in case of imports under a customs regime which is temporarily suspending the payment of such taxes (temporary imports), of goods under community transit regime, etc. The beneficiaries of such LNGs are custom units, which can request their execution in case the Authorizing officer of the guarantee does not pay budgetary receivables on its own initiative.
It is a fast and simple solution to secure commercial obligations.
- mortgage on current accounts;
- collateral deposit opened and blocked with the bank.