The bank guarantee, being an important instrument in the performance of contract obligations in international commercial transactions, also acts as an application with independent legal right, in contracts of sale and services. If the client provides a guarantee, if the obligations of the contract are not fulfilled, the bank takes the obligation to pay the amount on itself. Guarantee operations are regulated within the legislation of the Republic of Azerbaijan and in accordance with the rules of international law.
To reduce risks to a minimum, the Bank offers you the following types of guarantees with favorable term
— Payment guarantee.
— Guarantee of advance payment.
— Guarantee of the fulfillment of contract terms.
— Tender guarantee.
— Letter of credit ("stand-by").
Unsecured guarantee provides for the provision of a letter to the business owner, which is the guarantor during the sale and purchase processes and participation in tenders. An unsecured guarantee is issued on the basis of the client's monthly turnover and issued without any guaranty from the side of the entrepreneur. The bank guarantees payments from the client's side, while issuing a letter of guarantee to the party selling the product or holding the tender. As a result, the client in a short time can easily participate in the project of his choice, buy goods or fulfill other obligations.