Letters of Guarantee
Letters of Guarantee (L/G) to ensure the smoothness of your commercial transactions If you are looking for safe and reliable solutions to ensure the implementation of your commercial obligations, Letters of Guarantee from Al-Yaqeen Bank provide you with strong guarantees for the success of your transactions. A letter of guarantee is a written undertaking issued by Al-Yaqeen Bank upon the request of its customer, whereby it guarantees the implementation of a specific obligation within a specific period, whereby the bank undertakes to pay a specific amount to a third party (the beneficiary) upon the first request it receives during the validity period of the letter of guarantee.
Service features:
Guaranteeing the implementation of your obligations
Al-Yaqeen Bank guarantees the beneficiary to implement your commercial obligations, which reduces risks and facilitates the trade exchange process.
Safety and ease
Letters of guarantee provide safe and reliable solutions to ensure the implementation of your obligations, which reduces risks
An alternative to cash insurance
Letters of guarantee are an alternative to cash insurance, which reduces the need to provide large capital.
Guarantee for Auctions and Tenders
Letters of guarantee are used in auctions and tenders to ensure the seriousness of the offer and the implementation of the winner’s obligations.
Ensures that commercial obligations are implemented quickly and securely.
They provide guarantees to both parties, reducing risks.
The letter must be requested from the bank and the required documents must be submitted.