A letter of guarantee is a type of instrument issued by a guarantor bank on behalf of a customer who has entered a contract to purchase or provide goods or service to its counterparty and promises to meet any financial obligations in the event that customer fails to fulfill the contractual obligations. TransBank offers a bank guarantee service to support your business and protect both sides from any potential risks. Thus, with our knowledge and expertise we can structure a solution to your objective whenever it is needed.
We offer guarantees that are tailored to your business including below common types of guarantees:
- Payment guarantee
- Tender or bid guarantee
- Advance payment guarantee
- Performance guarantee
- Warranty and retention guarantee