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There is an opportunity for safe business even on risky markets. Be safe and do your business with letters of guarantees.

We can quickly provide for all our Clients all kinds of letters of guarantee and letters of credit.

What is a letter of guarantee?   

  • A guarantee is a security instrument by which the Bank undertakes an obligation to cover the receivables of a third party (guarantee beneficiary) up to a set amount of guarantee in case the Client does not perform on his contractual obligations or does not carry-out a payment.

How do I get a letter of guarantee?

You need to submit the following documents:

  • Client application
  • Official financial statement of the last 3 years, together with the overview of the current year
  • Buyers and suppliers overview on 31/12 and overview of current year
  • Overview of liabilities toward suppliers as of 31/12 of the previous year and overview of the current year
  • Immovable property certificate for offered security instrument with value assesment of movable/immovable property
  • Audit report, where it has been mandatory in the last 3 years
  • Consent to access credit registry of the Central Bank of Montenegro (RKR)

Depending on the loan schedule term it would also be necessary to submit the following documents:

  • Business plan for the period of loan repayment
  • Balance sheet and income statement projection for the period of loan repayment

Depending on the term and type of business, it is also required to submit the contract with a buyer or supplier, i.e. a document describing the underlying business for the issuance of the guarantee.



What are the letters of credit?

  • A documentary letter of credit is a security and payment instrument dominantly used in trade finance.

How do I get a letter of credit?

You need to submit all the necessary documents: - 

  • Client application
  • Official financial report for the last 3 years together with an overview for the current year
  • Buyers and suppliers overview on 31/12 of last year and overview for the current year.
  • Overview of liabilities towards suppliers on 31/12. of last year and overview for the current year.
  • Immovable property certificate for offered security instrument with value assesment of movable/immovable property.
  • Audit report, whereit has been mandatory in the last 3 years.
  • Consent to access credit registry of the Central Bank of Montenegro (RKR)

Depending on the loan maturity it would also be necessary to submit one of the following documents:

  • Business plan for the loan repayment period
  • Balance sheet and income statement projection for the period of loan repayment

Depending on the term and type of business, it is also required to submit the contract with a buyer or supplier, i.e. a document describing an underlying business for the issuance of letter of credit.