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Letter of Guarantee Advance Payment is the same like Bank Guarantee. This is issued normally in construction contracts, in which the Company makes the Advance payment to contractor the purchase the materials or else to perform the job and if he runs away or does not fulfills the terms and conditions of the contract, the company can take it back the advance payment through this letter of Guarantee for Advance payment.
Letter of Guarantee Maintenance MAINTENANCE GUARANTEE
After the completion of the implementation of the project, are the beneficiary to receive it if it appears and shows that the project is carried out entirely by the terms and conditions agreed upon, but in anticipation of the appearance of defects or flaws is a phenomenon, and due to the possibility of the emergence of a need to make some repairs, maintenance, and repair the body beneficiary, and even restore the client and the bank letter of guarantee final, they ask to be released from the bank letter of guarantee ensures conducting such reforms, or the completion of any defects that may appear in the project, and the duration of ensuring the maintenance up to a year in mostly
