A bank guarantee is an irrevocable commitment of the bank to pay the guarantee holder a certain sum of money in the case of the failure of the customer of the bank who asked for the issuance of such guarantee, in order to fulfil its liabilities towards the guarantee holder.
For the bank to issue the guarantee upon request of the customer, the customer should offer the guarantee collateral to the bank. The term of validity of the guarantee is up to 60 months.
Forms of collateral:
OP Corporate Bank plc Latvia Branch
+371 67 777 007
Muitas iela 1, Riga