Letters of Guarantee

Features

• Guarantee letters contain the payment commitment of a bank and are issued to ensure the fulfilment of the terms and conditions of a contract mutually agreed by the parties.
• It can be issued in TL or foreign currency.
• It can be issued for definite or indefinite period of time.
• Letter of Guarantee may be issued with respect to purchase of goods, dealership guarantees, contracting works, customs, court and tax office transactions within the scope of Interest-Free Banking Principles and Standards and the decisions of the Advisory Committee.

You can get detailed information from the nearest branch to you.

Foreign Letter of Guarantee (External Guarantee)

It is a guarantee letter issued by the Bank as addressed to persons or institutions resident abroad in order to guarantee in writing the purchase of a good or service, performance of a work or fulfilment of a commitment.

In Letter of Guarantee transactions, the performance of the party on behalf of whom the guarantee is issued (Customer) is guaranteed by the bank. In the event of Customer’s failure to fulfil its performance, the payment under the letter of guarantee is made upon the request of the Applicant.

Advantages

Trust

When a Letter of Guarantee is issued, Vakıf Katılım offers its own credibility and reputability to its customers.

Cost Advantage and Ease of Doing Business

Our customer has cost advantage and also advantage of doing business without investing any capital.

You can get detailed information from the nearest branch to you.