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Bank Guarantees

It is a credit operation through which AVANZ issues a document in favor of a third party guaranteeing the fulfillment of contractual obligations that our client has with the beneficiary of the guarantee.

Avanz offers you this service under four different modalities:

  • ​​Payment Guarantees: They cover the obligations of the buyer to pay the contracted price, established for the equivalent value of the merchandise or services that have been received.
  • Avanz Payment Guarantees:: This guarantee that advanz payments will be returned to the beneficiary if the AVANZ client does not comply with its contractual obligations.
  • Compliance Guarantees: They guarantee compliance with the contractual obligations between the beneficiary and the AVANZ client. Therefore, AVANZ pays the established amount if the client does not comply with the contract.
  • Offer Maintenance Guarantee: Guarantees that the Avanz client will sign the contract and/or will not withdraw from, or modify the offer, and/or will continue to provide the necessary guarantees for the signing of the agreement.

Characteristic

  • Aimed at individuals and legal entities, public or private.
  • Simple and fast procedure.
  • No interest charge. The client only pays a commission for the issuance of said guarantee.
  • Amounts from USD 5,000.
  • Available in different modalities.
  • Backed by a line of Credit or Fixed Term Deposit.
  • Personalized financial advice.

General requirements:

  • Valid identity document.
  • Have a good credit record.
  • Submit a request letter specifying the type of guarantee, amount, term, beneficiary and support thereof.
  • Submit the bidding specifications, including the guarantee form (if applicable).
  • Photocopy of Identity Card of the beneficiary of the guarantee.
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