The e bank guarantee is an irrevocable commitment of the issuing Bank under which it undertakes to pay a specific amount to the beneficiaryspecified in the letter of guarantee upon a claim and under the conditions as set in the letter of guarantee. The bank provides expert and consulting services on the letters of guarantee.
Bank guarantees issued by BACB could be:
- payment guarantee
- bid bond
- performance guarantee
- advance payment guarantee
- warranty guarantee
- for customs purposes
- others, depending on the specific deal and customer needs.
Currency: BGN, EUR, USD
Issuance: A bank guarantee is issued after a final agreement with the ordering customer of the type and text of the bank guarantee as well as providing a collateral, acceptable to the bank.
Advice: The bank advises the letters of guarantee received in favor of its customers and, if necessary, provides expert consulting on the concrete deal.
Fees and commissions: According to the List of terms and conditions of bacb applicable for institutional customers