Until recently, letters of guarantee were a financial product offered only by banks.
Letters of guarantee are now available from insurance companies, without the need to tie up cash or provide collateral (such as a mortgage pre-notation on property).
If your clients are ministries, government bodies and agencies, hospitals, municipalities and municipal companies, regions and local authorities, port and marina authorities, public works agencies, the Hellenic Republic Asset Development Fund (HRADF), PPC, utilities or the public sector in general, contact us for a detailed presentation of the product.
Key benefits:
1. Faster assessment and issuing, through a specialised online platform
2. No liquidity problem, which often arises in the client–bank relationship
3. Unlike bank guarantees, they do not weigh on the company’s balance sheet
4. No assets need to be pledged or mortgaged
5. The guarantee comes with an insurance contract, so it is recorded in the company’s expenses as an insurance premium
6. More efficient management of the company’s financial resources and cash flow
7. The cost of the guarantee is calculated per day, with a minimum of 90 days
8. You can take part in more public tenders at the same time