OTP Bank has come up with a solution
that will help you remove as many risks as possible from your business: the bank letter of guarantee.
The bank letter of guarantee may be set up for an amount and a deadline determined based on the awarding documentation or on the contract concluded between you and the beneficiary.
Depending on your needs, the it can be:
- Performance bond bank letter of guarantee;
- Payment letter of guarantee;
- Tender bond bank letter of guarantee;
- Any other type of letter of guarantee approved by the Bank.
For this product OTP Bank accepts any guarantee or mix of guarantees approved by the Bank, including collateral deposits.
The letters of guarantee may be issued also under a guarantee agreement or a limit for letters of guarantee, letters of credit, cheque certifications, contracted beforehand.
The issuing flow is very simple and fast for letters of guarantee conforming to bank's standard, in an amount of up to RON 50,000 included, issued individually or under a guarantee agreement and fully secured by collateral deposits.
Please come to any OTP Bank branch for consultancy and more information about this product.