Bankgarantias
Bankgarantias, often translated as bank guarantees, are financial instruments issued by a bank on behalf of its client (the applicant) to a third party (the beneficiary). They serve as a commitment from the bank to fulfill certain contractual obligations of the applicant if the applicant fails to do so. This provides a level of security and assurance to the beneficiary, reducing their risk.
There are various types of bank guarantees, each tailored to specific situations. Common examples include performance
The process typically involves the applicant requesting a guarantee from their bank. The bank assesses the