Bank Guarantee

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The guarantee is the bank instrument allowing minimization of the principal’s and beneficiary’s risks, which is the unconditional commitment of the bank to pay a sum at the beneficiary’s request in writing in case of default by the principal.

Cartu Bank issues both the local and international guarantees.

The international guarantee may be:

• direct guarantee: the letter of guarantee submitted to the beneficiary without certification;
• certified guarantee: the letter of guarantee certified by a first class bank.

Privileges

• compared to the other credit instruments a lower interest rate;
• smaller risks associated with the local and international transactions.

General Terms