 |
|
|
|
|
Home  Products Corporate Banking Corporate Finance Insurance of payment and non-payment quarantees
Insurance of payment and non-payment quarantees
Issuance of payment and non-payment guarantees
- Arises by a written statement by the bank in the warranty certificate that it will satisfy the creditor up to the determined volume of financial amount according to the content of the warranty certificate if a certain third person (the debtor) fails to fulfill a certain commitment or other conditions set out in the warranty certificate if a certain third person (the debtor) fails to fulfill a certain commitment or other conditions set out in the warranty certificate
- Payment warranties – secure the fulfillment of the debtor's payment obligation, the method of payment being always referred to in the payment conditions of the contract of purchase
- Nonpayment warranties – secure the fulfillment of commitments other than the debtor’s obligation to pay. This concerns securing the supplier's contractual obligations.
|
|
|