Bid Bonds/Provisional Guarantee
- These are letters of guarantee issued to the contracting authority and guaranteeing, if the tendered work is awarded to the beneficiary, that the beneficiary will sign the contract with regard to the tender and submit the performance bond.
Performance Bond
- These are bonds that guarantee that the beneficiary will fully comply with the provisions of the contract and the specifications with regard to the tendered work.
Advance Payment Guarantee
- In cases where the tendered work requires prior preparation, these are letters of guarantee provided to guarantee the advance payments extended to the beneficiary to cover the related expenses in order to be further appropriated against the final progress payments.
Other Guarantee Bonds
- These are letters of guarantee issued to different authorities and other real or legal persons for situations that differ from the letters of guarantee with regard to tenders.
- Other Guarantee Bonds include Letters of Guarantee addressed to customs authorities, Letters of Guarantee addressed to the Courts and Enforcement Offices, Letters of Guarantee addressed to tax offices, Letters of Guarantee regarding Dealership guarantee, Letters of Guarantee for the purchase of goods, Letters of Guarantee for securing cash loans and Letters of Guarantee securing deposits and security fees.
External Guarantees / Foreign Letters of Guarantee
- These are letters of guarantee issued to foreign beneficiaries and institutions abroad.