Direct bank guarantee issued by ABN AMRO to the beneficiary:
ABN AMRO issues the bank guarantee. The beneficiary can, if necessary, claim the guaranteed amount from ABN AMRO.
Direct bank guarantee – Advising through another bank:
in case of an advice guarantee, the correspondent bank verifies the authenticity of the bank guarantee issued by ABN AMRO and advises the the bank guarantee to the beneficiary without any liability towards the beneficiary.
Indirect bank guarantee
The bank guarantee is issued by a local correspondent bank abroad at ABN AMRO’s request as per your instruction. The beneficiary can claim the guaranteed amount from the local correspondent bank.
Please note! You will be charged for the correspondent bank’s fees.
If you choose ABN AMRO’s standard wording for the bank guarantee, we will ask the local correspondent bank to use their standard wording.