Komertsavaldised

Komertsavaldised, often translated as commercial guarantees or commercial undertakings, are financial instruments that provide assurance to a beneficiary that a specific obligation will be met by a third party, the guarantor. These guarantees are typically issued by banks or other financial institutions on behalf of their clients, who are the primary obligors.

The purpose of a komertsavaldised is to mitigate risk for the beneficiary. For example, in international trade, a buyer might demand a komertsavaldised from a seller's bank to ensure that the seller will deliver the goods as per the contract. If the seller defaults, the beneficiary can claim payment directly from the guarantor.

These instruments are distinct from bank loans or credit facilities. A komertsavaldised does not involve the direct provision of funds to the obligor but rather a commitment to pay if the obligor fails to perform. The guarantor charges a fee for issuing the guarantee, which is typically a percentage of the guaranteed amount.

The terms and conditions of a komertsavaldised are crucial and are usually specified in a written agreement. These terms will outline the scope of the guarantee, the conditions under which a claim can be made, and the duration of the guarantee. Understanding these terms is essential for all parties involved.