Letters of Guarantee
Letters of guarantee are guarantees issued against the addressee party on Turkish Liras or foreign currency, for domestic real persons and legal entities in connection with matters such as the realization of a business, the payment of a debt, the delivery of a good and with a commitment for unconditional payment of the value of letter in the event of failure to carry out the matter concerned.
They are the non-cash loans provided to our clientele for financing their importation.
Letters of Credit: L/C's are import loans that can be utilized as Payable At Sight, Deferred Payment or Mixed Payment. The L/C text which contains the agreed import conditions between the buyer and the seller is provided by our Bank generally along with a confirmation and payment to be affected in the event of realization of proper shipment as per the L/C text.
Acceptance/Aval Loans: Acceptance loans are import loans which allow you to pay your imports in deferred payments. Generally utilized in cash against documents or goods, the draft issued by the exporter is to be accepted by your company and then avalized by our Bank if deemed necessary and thus payment to the exporter party is guaranteed.
In Export L/C Confirmation Loans, by adding the confirmation of our Bank to the irrevocable export letter of credit issued in favour of your company, your risks are undertaken against the presentation of the conformed documents in accordance with the text of the letter of credit and the payment at maturity is assured.
Letters of Reference
Letters of Reference are issued by our Bank to inform the counter party that our client is favoured with a credit limit and has financial strength for the project it is bidding for. Letters of Reference can be denominated in Turkish Liras or Foreign Currency.
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