Surety Bond

It is a product that can be used instead of a letter of guarantee and where insurance companies act as guarantors instead of banks. It creates benefits such as cost advantage and fast operation process, especially when meeting the collaterals required for overseas projects. It also provides new limits in addition to your bank limits.

What does it cover?

• Tender participation guarantee
• Advance payment guarantee
• Performance guarantee
• Manufacturing, maintenance-repair guarantee

Advantages

• Reducing the credit limit burden on banks
• Limit allocation without collateral requirement
• A rapid needs-oriented assessment process
• Strong ratings of insurance companies, especially for international tenders