Commercial financing

Commercial financing
  • Current accounts
  • Other services
  • Loans
  • Offers

bank guarantee is an instrument that provides timely payment of goods/services and enables you to meet other terms of the contract.

Whether local or international, bank guarantees:

  • take over liabilities for a debt in the event that customers are unable to pay.
  • consist of a contract under which another party’s obligation is paid in the event that the latter is unable to pay.
  • are essentially a promise by one party to honour the contractual obligations of the other party, which is the guarantee applicant.

This instrument enables you to meet the obligations stipulated in the agreement, protecting both the interests of the sender (buyer/applicant) and those of the beneficiary (seller/sender). In this way your business is protected against unforeseen expenses and various delays. This is how it works:

  • If the buyer/applicant does not meet the agreed terms, ProCredit Bank carries out the payment within 5 (five) working days from the seller/beneficiary’s first , upon submission of the documents referred to under the guarantee.
  • If the guarantee beneficiary fails to provide the agreed goods or service, fails to submit documents to the buyer’s bank verifying the delivery and compliance with the agreed quality and quantity of the goods or service, or does not receive the payment.

The types of bank guarantees offered include:

  • Payment guarantees, which guarantee execution of payment in favour of the seller if the buyer does not meet the agreed terms.
  • Tender guarantees, which enable clients to participate in open/public or private tenders, securing their economic bid or co-operation agreement.
  • Advance payment guarantees, which ensure return of the pre-payment if the ordering party of the bank guarantee fails to meet the agreed terms.
  • Contract guarantees or guarantees for fulfilling the terms of disbursement and quality, which ensure the execution of the agreement in a timely and proper manner. 
  • Guarantees for the guaranteed period, which secure the reserved funds for cases of failure to meet the terms of the contract.
  • Customs guarantees, which cover customs duties related to the value of imported goods and relevant VAT.

ProCredit Bank has received a BB- rating from Fitch Ratings as BB-. You may show proof of this rating to your partners in Albania and abroad.