Letter of bank guarantee for downpayment return
It is destined to secure the pre-financing/downpayment granted by the management authority to the company for the cases the latter does not meet its obligations.
Characteristics
- the lending period covers the project implementation tenor until the full justification of the obtained pre-financing,
- the secured amount covers the value of the pre-financing/downpayment granted by the management authority in the conditions of the non-refundable financing program.
Advantages
- it sets up favorable pre-requisites to successfully conduct the projects co-financed from grants by assuring the required liquidities.