Bank Guarantees and Stand By Letters of Credit

Letter of Guarantee, known as Bank Guarantees is a written commitment issued by Tirana Bank (Guarantor), on behalf of Applicant and in favor of Beneficiary to enable payment until guaranteed amount against written Demand by Beneficiary in case of non-fulfillment of its obligations, object of this Guarantee. Bank Guarantees are subject to Uniform Rules for Demand Guarantees (URDG, Publication No. 758 of ICC).

Tirana Bank offers to Corporate and SME customers

1.Issuance of different types of direct Bank Guarantees in favor of beneficiaries within and outside Albania including:

Payment Guarantee – is issued for account of the applicant to assure payment of goods and services in favor of the beneficiary;
Advance Payment Guarantee – is issued for account of the applicant to assure usage of the advance payment amount in accordance with the contract;
Bid Guarantee - is issued for account of the applicant that participates in a Bid;
Performance Guarantee - is issued for account of the applicant to assure fulfillment of contractual obligations;
Customs Guarantee - is issued for account of the applicant to assure fulfillment of custom obligations;