Issuance, confirmation, and advising of guarantees
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It is a written guarantee in which the bank undertakes to make a payment to the Beneficiary in case the Principal fails to fulfill their contractual obligations.
ABB offers you the following services for guarantees
Issuance and notification of guarantees
Issuance, confirmation, and advising of guarantees
Approval by correspondent banks
Approving guarantees through first-class correspondent banks.
Multi-currency transactions and risk management
Taking into account the risks, the possibility of isolating funds in one currency and issuing the guarantee in another currency
SWIFT and third-party confirmations
Transmission of guarantee information via SWIFT and confirmation of guarantees received from other banks
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