A warranty is also frequently described as an aval and constitutes the assumption of a risk by the financial institution towards a third party which is agreed upon in writing. An aval is an accessory undertaking to pay by a financial institute offering a guarantee to make a payment to the beneficiary of the aval and to make the payment instead of its client if a specific event agreed upon between the parties to the contract arises.
The customer receives a creditworthiness advantage through the financial institution‘s trust, avoids capital commitments and has a liquidity advantage as a result.
The most widely used types of sureties are:
- Performance warranty
- Service warranty
- Advance payment warranty
- Rental payment warranty
SUISSE BANK is your financial partner for all your trade finance projects.
Please fill out the online writable application. Send us the copy of the application with all the required documents first by email and courier the originals to our postal address:
Reem Island, Marina Square
PO Box 2576 - Abu Dhabi
United Arab Emirates
T: +971 (0) 2 208 3113
F: +971 (0) 2 208 3111
Should you have any queries or concerns, please feel free to contact us.