Chat
INTERNET BANKING

Banking Guarantee

Credo offers to its customers possibilities of insuring risks and banking guarantees.

Through the banking guarantee, the Bank acquires written and unconditional obligation to compensate an amount set forth in the letter of guarantee in case of failing to execute imposed obligation timely.

Run your business without impediment, through the Credo Bank’s banking guarantees!

Who are the parties to the banking guarantees’ contract?

Collateral – issuer of the banking guarantees.

 

Principal is a person with liabilities of banking guarantees.

 

Beneficiary is a credit user of principal, who entails a right of demand from principal.

 

Guarantee carries an obligation to pay to the beneficiary money, upon a written request of the latter.

How does the date for enacting the contract enter into force?

The banking guarantees’ contract will be entered into force from the moment of issuing agreement and banking guarantees from the principal and guarantee.