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International guarantees and collateral

International guarantees and collateral

Guarantee your company's payment of its commitments and obligations to third parties.

  • All kind of services for cover your needs so much if is importer as exporter.
  • Remote banking to make any type of consultation.
  • With the collaboration of CESCE to reinsure operations with greater risk.

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Endorsements and Guarantees are instruments through which a financial entity acts as a guarantor for commercial or financial commitments acquired by a client company in its operations. This way, ensure in an irrevocable way the fulfillment of the commercial commitments and/or financial derived from the national operations and international.

You offer all kind of services for cover your needs: provisional endorsements, endorsement lines, technical and economic endorsements, endorsements with the Spanish Tax Agency (AEAT), exchange endorsements, special endorsements, endorsements to secure regular benefits, endorsements before the public administrations and arrangement endorsements.

Moreover, through our distance banking , be able to carry out all kind of enquiries on the situation of your endorsements: general data, settlements and upcoming maturities, among others.

Types of guarantees

  • Bid (bid bond): Used to present in tenders.
  • Execution (performance bond): In the event of breach of contract by the payer, the guarantee obliges payment of the agreed amount to the payee.
  • Payment (Advance payment bond): Ensures the payee the reimbursement of payments it has made, if the payer does not fulfill the contract terms.

Glossary

Endorsement: Provided in the body of the document (instrument, promissory note…).

Guarantee: Issued in a separate document from the principal secured obligation. Unlike the documentary letter of credit, in guarantees the payment by the issuing institution is only potential (i.e. will only occur if the secured party defaults). The guarantee is not a payment method.

Participating parties

  • Payer: orders their bank to issue a guarantee.
  • Guarantor: Bank that issues the guarantee and is bound to make payment in the event of non-compliance of the payer's obligations.
  • Payee: Party for whom the guarantee is issued.
  • Counter-guarantor: Bank that in turn guarantees the guarantor.