Start : Corporations : Guarantees

Guarantees

 

In order to satisfy its obligations, business partners may use guarantees offered by AS Expobank.

A Bank guarantee is the Bank’s irrevocable obligation to pay a fixed amount to the guarantee’s beneficiary in case the applicant defaults upon his or her contractual obligations.

A guarantee payment is made if the beneficiary submits to the Bank a written demand which meets the guarantee’s requirements.