Cross-border transactions with trading partners in other countries often involve higher risks than domestic business. Assessing a trading partner’s financial position is often difficult because of the distance and the conditions in the country. Here, a bank guarantee comes into play: a common and internationally accepted instrument to safeguard and enforce claims against contracting parties to foreign trade transactions.
- Issue of tender guarantees/bid bonds, advance payment and payment guarantees and performance, warranty and retention bonds.
- Issue of stand-by LCs in jurisdictions in which guarantees are generally not customary.
- Issue of guarantees through correspondent banks in the MENA region – backed by our counter-guarantee – should these be prescribed by local law or expressly requested by the beneficiary.
- Misr Bank-Europe GmbH‘s counter-guarantees enjoy acceptance in many countries in the Arab world.
- In-depth knowledge and flexibility with regard to guarantee wording and the issue of further documentation distinguishes our experienced international department.
- In case of insufficient financial information, Misr Bank-Europe GmbH is prepared to accept (counter-)guarantees from other European/international banks as collateral.