What is a guarantee
A document in which BFA establishes itself vis-à-vis third parties as a guarantor, securing the performance of obligations assumed by its customers. The Bank may set a ceiling on the amount it is willing to guarantee.
Benefits
• Reduced costs
• Speedy execution of transactions
• Guarantees performance of your company’s obligations to third parties
• No need for transfer of financial resources
Term
No specified term, or else a set expiry date plus a period for possible claims.
Amount
To be defined in each individual case.
Documents required
• Memorandum of incorporation of the company
• Commercial register
• Taxpayer card
• Instrument of appointment of the members of Management/Board of Directors
• Contracts whose rights are to be pledged to the Bank
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