Non-cash Loans

It is a written commitment that guarantees that our customers will fully and completely fulfil an obligation they have undertaken, within the specified time and in accordance with the stipulated conditions. With this commitment/letter, our Bank undertakes to pay the amount written in the letter of guarantee to the beneficiary upon the written request of the beneficiary in case our customer does not fulfil the obligation that has been assumed in accordance with the terms of the contract between the customer and the beneficiary. The letters are classified into types such as goods purchase guarantee letter, advance guarantee letter, bid bond/tender guarantee letter and performance bond or project performance/completion guarantee letter.

External guarantee loan is a type of letter of guarantee issued in foreign currency and is used in cases where the beneficiary is non- resident. These are guarantee contracts that contain the commitment of our customer, who undertakes to the beneficiary to carry out a certain job, deliver a good or pay a debt, that if this commitment is not fulfilled, the letter amount will be paid to the beneficiary by our Bank according to the conditions in the guarantee letter.

In external guarantees, in cases where one of the parties cannot take the counterpart country/bank risk, it is possible to add an additional guarantee to the transaction by the banks of the resident country. This product is called “counter-guarantee”. With this product, our customers can provide additional bank guarantees to the external guarantees offered to them or to the external guarantees they will offer to a counterpart abroad.