Guarantees
OTP bank issues and advise guarantees as security instruments. At the request of guarantee user the Bank undertakes to make payments up to the amount specified in the warranty, in the case of non-payment or default of contractual obligations by the instructing party under the guarantee.
Types of guaranties issued and advised by OTP Bank
- for securing the payment
- for the recourse of advance payment
- auction guarantees
- bid bond
- performance guarantee
- guarantees for timely performance
- customs guarantees
- counter guarantees
Necessary documentation
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Documentary letters of credit
Documentary credit represents one of the most significant instruments of international payment in foreign trade business that enables more secure exchange of goods and protects interests of vendor and buyer.
Find out moreDocumentary collection
Documentary collection is a payment instrument used in import-export businesses. Compared to the documentary credit, documentary collection includes prior delivery or rendering of services by the vendor before execution of payment.
Find out moreGuarantees
OTP bank issues and advise guarantees as security instruments. At the request of guarantee user the Bank undertakes to make payments up to the amount specified in the warranty, in the case of non-payment or default of contractual obligations by the instructing party under the guarantee.
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