Issuance of guarantees
The letter of guarantee is a written document by which us, as financial backers, irreversibly commit ourselves, if our client (the main debtor) fails to pay by the due date an amount expressly indicated in the respective document, to pay by subrogation, directly and unconditionally to the beneficiary’s account.
This financial instrument implies thus taking over the payment liability for cases when the guaranteed party hasn’t fulfilled the contractual obligation, without making reference to facts.
We can issue any type of guarantee letter, either binding or non-binding, for any kind of business (bonds, import/export operations by letter of credit / documentary collection, performance bond, payment to the supplier, participation in tenders and others).
