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 services 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 and protect businesses from potential counterparty risk upon nonfulfillment of contractual duties. Expending our knowledge and expertise in this area, we can structure a solution to your particular objective.
We offer guarantees tailored to your business needs, including below common types of guarantees:
- Payment guarantee
- Tender or bid guarantee
- Advance payment guarantee
- Performance guarantee
- Warranty and retention guarantee