What is a Bank Guarantee?
A Guarantee is a promise of payment from the Guarantor to the Beneficiary that the
Guarantor will pay the beneficiary when the beneficiary submits certain documents or
makes a specific demand to the Guarantor in a certain manner time or place.
Guarantees provide comfort to the beneficiary; in case the applicant fails to meet his
obligations (either financially or by performance) as per the contract made between the
applicant and the beneficiary, the beneficiary will have the guarantee to turn to for payment.
Having a guarantee issued in support of a client’s transaction can help the client grow and
expand their business by postponing current payments for goods and/or services to a
later date, provide comfort to buyers, allow clients to bid on transaction, without requiring
that ITF’s clients tie up their available cash.
Our external strategic partners play a fundamental role in the efficient organization, management,
and operations of the Group. This team guarantees the success of the Group, providing
essential banking services thanks to a qualified range of international experiences.