Sunday 30 Apr 2017
LGs& CGs

Guarantees

Bank guarantees are instruments for securing and enforcing the claims of parties to foreign trade contracts. In international trade dealings, buyers and sellers often face similar problems. A seller might find it difficult to assess the buyer’s willingness and ability to pay, while the buyer might not be sure that the seller genuinely intends to perform its side of the contract or has the necessary financial and technical resources to do so. Just as the buyer needs protection against non-performance, so the seller will require to minimize or insure against the risk of non-payment. Both of buyers and sellers involve risks and requirements that do not arise in domestic trading. The custom in international trade is to have undertakings that are payable on the first demand and that are legally separate from that underlying transaction. Country-specific features and diversity of bank regulations and practices bring forth some challenging complexities for both the banks and their customers in bank guarantee business, meaning that our customers’ primary need as well as our correspondent bank's crucial requirement is for risk protection.
Bank Mellat is offering its customers and correspondent banks a full range of guarantee instruments in the framework of domestic and international rules and regulations, acting as their supporting partner with decades of experience and extensive expertise in guarantee business.
In each case, we provide our customers with tailor-made solutions and individual service of checking, commenting and drafting guarantee conditions or complete wordings in line with the domestic and international rules, regulations, standards, and practice.
Contact our Letter of Guarantee Department
No.276, Mousavi Juncion, Taleghani St.,
Tehran 1581736911, I.R. of Iran
SWIFT: BKMTIRTHLGD
Tel: +9821 82963481 and +9821 82962328
Fax: +9821 82962504
E-mail: LGDEPT@BANKMELLAT.IR