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Campaign of issuance of Letters of guarantee

 

Between 03.01.2023- 30.06.2023, the campaign "Si repede, si fara comision" takes place.  

The conditions of the campaign are as follows:

  • On the same day of submission of the documentation we issue Letters of guarantee fully covered with cash collateral deposit, without any commission nor electronic archive taxes, provided that the standard text of the bank is used, and the collateral deposit is maintained throughout the period of validity of the respective Letter of guarantee.

  • Eligible Product: The new Letter of guarantee issued during the campaign period and fully guaranteed with a cash collateral deposit without interest;

  • In order to issue the bank letter of guarantee on the same day, the submission of the documentation must be made until 11.00. 

Apply now in any branch!

Choose the right banking instruments for local and international trade

Bank letter of guarantee

It is a guarantee instrument by which the bank, at your order, undertakes to pay an amount of money to the beneficiary, under the conditions of submitting a request for payment in accordance with the terms and conditions of the letter of guarantee.
 

BENEFITS

  • ensures protection against commercial risks of non-performance or poor performance of the contract;
  • covers the risk of non-payment of the value of the goods sold / services provided;
  • ensures the recovery of the advance granted in case of defective performance of the contract;
  • reflects the bank's trust in its customer and its transaction.

Letter of credit

It is a payment instrument whereby the bank undertakes to pay a sum of money in exchange for the presentation of documents by the exporter / seller, in accordance with the terms and conditions of the letter of credit.

BENEFITS

  • assures the importer that the goods will be delivered and paid in accordance with the terms of the contract;
  • provide the exporter with security for the receipt of the value of the goods delivered to an unknown trading partner or in a high-risk country;
  • enables the exporter to receive the value of the goods delivered in advance, by discounting it to the bank, improving the company's cash flow

Collection

It is a payment instrument through which the exporter's bank (also called the sending bank) mediates the sending of commercial / financial documents to the importer. The documents are sent by a collecting bank, in order to issue them to the importer against payment and / or acceptance.

BENEFITS

  • history and confidence in the conduct of transactions.
  • gives the exporter the certainty that he will collect the value of the shipped goods
  • it has a lower cost than the documentary letter of credit

We are waiting for you in the nearest branch to offer you the solution that is the most suitable for your transaction.

Contact

FREQUENTLY ASKED QUESTIONS - BANK LETTER OF GUARANTEE

If you still have questions, look for the answers below

What types of bank letters of guarantee can you benefit from?

First Bank SA issues any type of bank guarantee letter: tender participation (bid bonds), performance bond, payment guarantee, advance payment guarantee, warranty bond, retention money guarantee, guarantee for the payment of customs duties and other budgetary claims, etc.

What documents are required?

  • Application for issuing/modifying a bank letter of guarantee

  • Commercial documents (Commercial contract concluded with the partner / tender documentation / Any document showing the need to issue the bank letter of guarantee)

How are bank letters of guarantee issued?

Customers of the Bank – legal entities can benefit from a letter of guarantee, either with any collateral accepted by the Bank, or with collateral deposit and security mortgage on the bank accounts opened by the Borrower.

What fees apply?

You can find information about commissions here

FREQUENTLY ASKED QUESTIONS - DOCUMENTARY CREDIT

If you still have questions, look for the answers below

What documents are required?

  • Application for the issue/amendment of an import letter of credit

  • Commercial documents (commercial contract concluded with the partner / Pro-forma invoice)

How is the letter of credit issued?

You can benefit from letters of credit, either with any collateral accepted by the Bank, or with collateral deposit and security mortgage on the bank accounts opened by the Borrower.

What fees apply?

You can find information about commissions here

FREQUENTLY ASKED QUESTIONS - INCASSO - THE DOCUMENTARY

If you still have questions, look for the answers below

What documents are required?

  • Request for remittance of the set of  documents under the export collection

  • The set of documents in original, which must be remitted for collection

What fees apply?

You can find information about commissions here

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