فارسی | Tuesday22 August 2017
 

Letters of Guarantee (L/G)
Guarantees in the local currency (I.R.R.)
Upon receiving the request of individuals or legal entities, the bank will guarantee the payment of debts and performance of liabilities which are undertaken by the applicants in favor of state organizations and executive institutes or organizations, considering the instruction for issuing letters of guarantee so that, in case the applicants do not fulfill their liabilities, the guaranteed amount will be paid to the beneficiary's account upon his request.
Banking guarantees are categorized as follows, in terms of variation in liabilities and according to the banking common law:
1. Bid/Tender guarantee
2. Performance bond guarantee
3. Advance payment guarantee
4. Retention money guarantee
5. Payment guarantee
6. Custom guarantee
7. Other guarantees

A) Required documents for individuals:
• The copy of the applicant's ID card
• The copy of the applicant's National card
• The copy of the business license
• The copy of the valid title deeds or key-money or lease contract of the working place
• The copies of the title deeds (collaterals), incase the credit facility is allocated against landed properties as collateral
• The full copy of title deeds of movable and immovable properties, the company's stocks, partnership papers and etc.
• The copy of special documents regarding any kind of guarantees such as the related notices for bid or tender guarantees, the contract between the applicant and the beneficiary and….
• The copy of the warrantor/warrantors' ID and National card
• The business license and documents for their workplace (for the warrantor/warrantors)

B)Required documents for legal entities:
• The copy of the company's Articles of Association, memorandum of association, notices in official gazettes regarding the establishment of the company, latest changes in the Articles of association and managers and the copy of their ID and National Cards
• The copy of the business license
• The copy of the valid title deeds or key-money or leasing contract of the company
• The copy of the title deeds (collaterals), incase the facility is allocated against landed properties as collateral
• The full copy of title deeds of movable and immovable properties, the company's stocks, partnership papers and etc.
• The company's latest balance sheet of the two previous years of its operations
• The copy of special documents regarding any kind of guarantees such as the related notices for bid or tender guarantees, the contract between the applicant and the beneficiary and….
• The copy of the warrantor's documents including the above mentioned company documents
• The warrantors' business licenses
• The documents of the workplace of the warrantors