Letter of Guarantee

Is a written pledge issued by the Bank at the request of the client (it) includes a firm commitment and again pay a certain sum, or is subject to the appointment of another person called (the beneficiary) and that, upon request within a specified period in the speech without regard to any opposition.

The importance of the letter of guarantee:
Longer guarantee letter of credit operations important in life and you are beta banks and trading bank guarantee letter is different from its dealings in the loan terms are not given the money immediately to the client as it happens in the loan and is not put at his disposal and it undertakes to pay to another person called ( beneficiary) and may not be paid the bank to the amount of release and even though its expiration date if the recipient did not ask for the amount of speech.

Parties to the letter of guarantee
The client. They replace the cash deposit required to
Bank. It is the commission received by the exchange for the speech.
The beneficiary. Is to obtain an undertaking to pay the bank the value of the letter upon request

Bank guarantees for the issuance of letter of guarantee
Pointed out that the forms of law to cover are:
1 - The amount of cash provided by the client of the bank
2 - is from the client put the money in the account debtor to the client in the current account
3 - Cover the eyes of mortgage property or movable property for the benefit of the bank Letter of Guarantee:
Is a written pledge issued by the Bank at the request of the client (it) includes a firm commitment and again pay a certain sum, or is subject to the appointment of another person called (the beneficiary) and that, upon request within a specified period in the speech without regard to any opposition.

The importance of the letter of guarantee:
Longer guarantee letter of credit operations important in life and you are beta banks and trading bank guarantee letter is different from its dealings in the loan terms are not given the money immediately to the client as it happens in the loan and is not put at his disposal and it undertakes to pay to another person called ( beneficiary) and may not be paid the bank to the amount of release and even though its expiration date if the recipient did not ask for the amount of speech.

Parties to the letter of guarantee
The client. They replace the cash deposit required to
Bank. It is the commission received by the exchange for the speech.
The beneficiary. Is to obtain an undertaking to pay the bank the value of the letter upon request

Bank guarantees for the issuance of letter of guarantee
Pointed out that the forms of law to cover are:
1 - The amount of cash provided by the client of the bank
2 - is from the client put the money in the account debtor to the client in the current account
3 - Cover the eyes of mortgage property or movable property for the benefit of the bank
4 - Cover securities