Non-Cash Loans
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Letter of Guarantee
A letter of guarantee is a type of contract in which the Bank unconditionally guarantees on behalf of an individual or legal entity, residing within or outside the country, that the work or delivery obligations of the individual or legal entity will be carried out within a specified period of time and under certain conditions in terms of customs, tenders or the purchase or sale of goods. These guarantee documents that can be prepared in TL or in foreign currency within our Bank, help you to use our goodwill and reliability by the party, to which you undertake any work or performance.
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Letter of Credit
Basically a letter of credit provides a payment guarantee to the exporter upon the fulfillment of obligations in accordance with the specified terms. A letter of credit involves a conditional Bank guarantee and it is issued upon applicants’ demand by our Bank. If the exporter does not fulfill the conditions in the letter of credit, the importer is not obligated to pay the exporter after the goods are shipped. The importer is guaranteed that the goods will be shipped on time according to the conditions in the letter of credit.
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Acceptance/Aval Credit
An Acceptance/Aval Credit is a type of loan which allows importers receiving the goodswithout making a payment by accepting a policy issued by the seller. The exporter may collect his money by discounting these policies, to which we have given aval as the importer’s Bank, at another Bank
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Reference Letters
Reference letters are issued by our Bank mostly for our credible customers that are generally active in construction and contracting businesses upon their demands. These letters can be issued both in TL and foreign currency basis.