bankgarancia
A bankgarancia (bank guarantee) is a commitment by a bank to cover financial obligations of a client if that client fails to meet contractual duties. The guarantee specifies the maximum amount and the period of validity and is commonly used in trade, construction, and public procurement.
Three parties are typically involved: the applicant, who seeks the bankgarancia; the beneficiary, who will be
Common types include performance guarantees, ensuring contract completion; financial guarantees, securing debt or payment; bid or
Guarantees are used in government and private procurement, construction projects, international trade, and lease or supply
Costs are typically a quarterly or annual fee expressed as a percentage of the guaranteed amount. Banks
The bankgarancia is distinct from a letter of credit in that the bank’s obligation is usually a