Letter of Guarantee: Our bank offers a letter of guarantee service to our valued customers. The bank will issue a pledge from the bank at the request of one of its collaborators (order) to pay a certain amount or assignable to another person (the beneficiary) unconditionally if asked to do so within the period specified in the letter The letter of guarantee shall specify the purpose for which it was issued, and note that the letter of guarantee is issued only by a bank and that it has three parties:
1- Guarantor or guarantor: – The bank that issued the guarantee letter.
2 – Order or guaranteed: – Natural person or legal customer bank
Who issues the letter of guarantee according to his instructions and instructions.
3- Beneficiary: – The entity issuing the letter of guarantee in its name and in its favor.
– Letters of guarantee service includes the following products:
1- Entering a tender.
2- Good implementation.
3- Operational advance or financing.
The terms and conditions of the letters of guarantee: –
The application form issued the letter of guarantee on the form approved by the bank and the location of the customer, with the application must include the following information and conditions:
1- The name of the customer / order issuing the letter of guarantee (personal / or moral).
2- Date of application.
3- The duration of the guarantee letter.
4- Purpose.
5- Beneficiary.
6 – A copy of the referral from the beneficiary with the contract of the letter of guarantee good implementation or operational advances.
7- A copy of the subscription receipt (to enter the tender).
8 – Signing the customer to the request of natural persons with all their holdings.
9 – Company papers (establishment contract / certificate of establishment / minutes meeting / budget for the last fiscal year certified and tax accounting).
10 – The applicant must be a customer of the bank for a period not less than three months or recognized by a person known for his good dealings with the bank.
Documents required for issuing the letter of guarantee:
1- Documents for granting credit to individuals (Iraqis):
– Civil ID / Unified Card.
– Supply card / accommodation card.
– Photograph .
– Work identity if any.
– Passport if any.
– The phone number of the customer plus a telephone number for someone close to him to contact him in case the customer can not be reached.
– Email if found.
– Key card if available.
2- The documents concerning the treatment of granting credit to individuals (non-Iraqis).
– Valid passport.
– Residence document.
– The identity / contract of employment (according to the situation and the conditions of the product / approval).
– Photograph .
– The customer’s phone number and a telephone number for someone close to him if he can not reach the customer.
– E-mail .
– Visa Card if any.
3 – Required documents to grant corporate credit: –
– Company papers (establishment contract / certificate of incorporation / minutes of meeting) Original copies to be read by the credit officer and then taken a copy and stamped with the stamp of the original.
– The company’s papers must be approved by the Registrar of Companies for a period not less than three months.
– A statement of account of the company from a bank accredited and dealing with him for one year to find out the activity of the company during a certain period.
– Final accounts of the company for the last financial year certified or three years if possible.
– Documents of the authorized director (as stated in point no. 1) above.
– The official address of the company.
Email to the company.
For more information about the service details, contact the competent employee on the following numbers:
Credit and Investment Section
Badawala / 07722229229
07711119229 / Switch
Or email: info.asiabank@aiib.iq
