Stand-by letters of credit
A stand-by letter of credit is used to guarantee different obligations, with the bank guaranteeing payment in the event of default on the part of the applicant.
A bank guarantee is an instrument whereby the bank guarantees to pay a specific amount of money to a beneficiary in the event that any failure to comply with the obligation guaranteed in said instrument.
- Commercial guarantees
- Performance bonds
- Payment bonds
- Bid bonds
- Direct payment guarantees
- Bank guarantees are widely accepted both at home and abroad
- Easy access to credit with other financial institutions
- Advisory services with regard to issuing this type of product so that the inherent risk is adequately handled.
- Guaranteed payment to third parties, in the event of default on the part of the applicant
¿How can I obtain this type of letter of credit?
- A completed application requesting this type of letter of credit to be issued.
- Text to be approved based on international standards and the Bank´s own internal policies.
- The Bank may require further information o documents, based on the CRM policies currently in place.
- The client must have obtained a line of credit
For more information please contact us at the following email address: email@example.com)