Pancreta Entrepreneurship > Solutions for Professionals > Letters of Guarantee

Letters of Guarantee

https://www.pancretabank.gr/en/businesses-professionals/solutions-for-professionals/letters-of-guarantee

Letters of Guarantee offer the possibility to legal or natural persons, regardless of the size of their business activity, to compete on equal terms with other businesses, benefitting from the guarantees provided, which in turn creates opportunities for opening new economic units. Letters of Guarantee are generally accepted as a means of validating, facilitating and expanding trade and provide businesses with a form of indirect financing, since they temporarily reinforce the principal’s creditworthiness.

TYPICAL CASES FOR ISSUING A LETTER OF GUARANTEE

You may be asked to provide a letter of Guarantee as a means of proving financial standing and solvency;
Also, by State Agencies, Local Government Organisations, Public Entities, private legal persons and individuals (legal or natural persons), etc.
Indicatively, Letters of Guarantee may be classified as follows:

  • Letters of Guarantee for participation in a tender or an auction;
  • Performance guarantees for a contract, project or supply;
  • Letters of Guarantee for advance payments, reimbursement of deductions, timely payment (of goods, loans, etc.), establishment and operation of a travel agency, issuance of a registration certificate for Public Service Vehicles or commercial vehicles, etc.
PROCEDURE FOR OBTAINING A LETTER OF GUARANTEE

The procedure is simple. All you need to do is visit one of our Network’s Branches.
Specialised officials will suggest the right type of Letter of Guarantee which fully covers your needs.

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