These are guarantee documents issued by banks to official establishments and organizations, and other natural or legal persons in favor of their natural or legal person clients and undertaking that, in obligations to deliver some goods, perform any work or pay any debt, etc., the obligation will be performed on specified conditions and within a specified period of time, and that the bank will otherwise pay the amount of such obligation unconditionally.

What are the Features and Advantages?

• Provides bank guarantee for the commercial relationship between a person/organization desirous of having a work done in any subject and the one desirous of undertaking such work.
• Letter of guarantee help our clients use goodwill and reliability of the bank before the party, to which they undertake any work or performance. They boost their business volumes and profitability, as they avoid using their capital in operating in this manner.
• The addressee organization in turn feels in greater guarantee owing to the bank letter of guarantee. It has the guarantee to get the amount of obligation from the bank if the work is not performed.

How can Letters of Guarantee be issued?

• They can be issued in Turkish Liras or a foreign currency, for a definite or indefinite term.
• They may be performance, bid, advance or special-text, depending on nature of the work.
• They can be issued for goods purchases, dealership guarantees, contracts, customs, court, tax office procedures, etc. in terms of the subject.

Eximbank Letters of guarantee

A type of letter of guarantee, with a maximum term of 18 months, issued to Turkish Eximbank to constitute a guarantee for loans either directly obtained therefrom by export-oriented goods manufacturers and export companies or extended indirectly thereby for export financing to companies with an exports performance of over a certain amount in the past calendar year.

At our branches, you can meet your requirements for letters of intent and letters of guarantee required by Turkish Eximbank as guarantee.