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 related to guarantees
Issuance and notification of guarantees
Issuance, confirmation, and advising of guarantees;
Confirmation by correspondent banks
Confirmation of guarantees by first-tier correspondent banks;
Multicurrency operations and risk management
Considering risks, the possibility to isolate funds in one currency and open a guarantee in another currency.
SWIFT & Third-party approvals
Transmission of guarantee information via SWIFT and confirmation of guarantees received from other banks.
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