In BBVA we guarantee the payment and fulfillment of the commitments and obligations that your company has acquired before third parties (payees).
- Speed in issuance.
- It offers confidence to intervening parties because there is at least one bank involved.
- It replaces the creation of the guarantee deposits that are necessary to ensure certain contracts, avoiding capital lockup or financing and thus becoming an significant support to cash management.
- Issue costs below the costs of capital lockup or financing
- The bank irrevocably undertakes to pay the payee if the customer does not comply with what has been established in the business.
- Guarantees for the Direcção Geral das Alfândegas (Customs Administration).
- Guarantees for the compliance of obligations for courts, finances, city halls, incomes, etc.
- Supply/award guarantee for public works and other entities.
How does it work?
The bank guarantee is provided in a hard copy issued by BBVA with a signed credit operation, whereby the Bank guarantees the payee the obligations and commitments undertaken by your company, thus honoring the commitments in the event of non-compliance.