Guarantees

Even with signed contract, there is a risk that obligations shall not be fulfilled due to certain circumstances. Therefore a bank guarantee* is often needed backed by a renowned name – sound bank.

*Bank guarantee is a legal transaction where one party – guarantor, upon the request of the other party and according to its instructions assumes an independent and irrevocable obligation to pay the amount stated in the guarantee to a third party – the beneficiary if it fulfills the terms and conditions stated in the guarantee.

Upon the client’s order and in accordance with the request and received instructions, OTP banka Srbija shall issue the following types of dinar and foreigncurrency guarantees:

  • Tender guarantees
  • Advance payment guarantees
  • Performance guarantees
  • Warranty guarantees
  • Payment guarantees
  • Customs guarantees
  • Standby letters of credit