Letters of Guarantee

Dorax Investments issues its guarantees as an independent obligation in relation to a beneficiary, so as to pay a certain sum against a written request of this beneficiary concerning non-performance of some contractual obligations by its counterpart.

As in the case of a letter of credit such bank guarantees are a bank obligation (irrespective of contract) to make payment against documents submitted, but essentially the guarantee suggests to secure a performance of obligations, i.e. any guarantee payment occurs under non-performance of respective contractual obligations. As the guarantee is a tool absolutely irrespective of contract, so any bank accepting a relevant guarantee request shall be obliged to make payment irrespective of any real situation of the performing applicant's obligations. The interest sum for issuing guarantees depends upon a respective class of the financial institution as an issuer.

Any guarantee can be issued for an annual period.

General types and versions of guarantees

There are various types of bank guarantees and flexible documentary tools and instruments which enable us to reduce not only risk of payment but also many other risks such as, risk of contractual non-performance, risk of infringed guarantee and bid obligations.

Dorax Investments issues following guarantees: