corporate banking
Corporate

Guarantees

Advance payment bond

Issued to a beneficiary as a guarantee, at the request of the supplier should the latter misuse the advance payment granted to him to begin the work according to the contract.

Bill of exchange

A document containing an instruction to a third party to pay a stated sum of money at a designated future date, which can be endorsed by the bank, hence serving as a guarantee for the beneficiary.

Immigration bond

An Immigration Bond is an undertaking issued by a bank on behalf of a customer, providing guarantee that all the expenses of an expatriate will be met should the expatriate have to leave the country.

Performance bond

Issued to a beneficiary as a guarantee, at the request of the supplier in case the terms and conditions of the contract are not observed.

Retention money bond

Issued to a beneficiary as a guarantee, at the request of the supplier in the event of the contractor's refusal to remedy any defects/alterations after receiving full final payment on completion of the contract and before the end of the maintenance period.

Tender bond

Issued to a beneficiary as a guarantee, at the request of an eventual tenderer who offers by tender to enter into a contract.