Workshop on Standby Letters of Credit, Direct Guarantees, Counter-Guarantees and Guarantee Letters

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  • Workshop on Standby Letters of Credit, Direct Guarantees, Counter-Guarantees and Guarantee Letters

Instructor

Ayşe Benli

Category

Virtual Classroom Training

Objective of Training

The training aims to provide information on the minimum requirements that must be written on the instruments in question when arranging counter-guarantees, direct guarantees and Standby L/Cs to be issued abroad, the points to be considered, the examination of counter-guarantees received from abroad, the important points to be considered when arranging letters of guarantee in return, and information about letters of guarantee and sample exercises.

Workshop on Standby Letters of Credit, Direct Guarantees, Counter-Guarantees and Guarantee Letters

12.12.2025 10:00 • 13.12.2025 16:00 • 2

Standby Letters of Credit and Guarantee Letters

1. Standby Letter of Credit

  • Parties in Standby Letters of Credit
  • Differences Between Standby Letters of Credit and Similar Contracts
    • Difference from Commercial Letters of Credit
    • Difference from Guarantees and Counter-Guarantees
  • Types of Standby Letters of Credit
    • Bid Bond/Tender Bond Standby
    • Performance Standby
    • Advance Payment Standby/Downpayment Standby
    • Commercial Standby
    • Financial Standby
    • Insurance Standby
    • Direct Pay Standby
    • Counter Standby
  • Points to Consider in Guarantee Letters to be Issued Based on Standby Letters
  • Minimum Requirements to be Included in Standby Letters of Credit
  • Application: Issuance and Review of Standby Letters of Credit
  • ICC 590 (ISP 98) Brochure

2. Overseas Guarantee Letters

  • Basis for Foreign Guarantee Letters
  • Parties to Foreign Guarantee Letters
  • Direct Guarantees, Indirect Guarantees (Counter-Guarantees)
  • Types of Overseas Guarantee Letters
    • Provisional Guarantee Letter (Bid Bond)
    • Performance Guarantee Letter (Performance Bond)
    • Payment Guarantees (Letter of Indemnity)
    • Credit Guarantee (Credit Facility, Loan, Pre-financing, Overdraft Guarantee)
    • Other Guarantee Letters (Retention Guarantees, Maintenance Guarantee, Warranty Bond, Bail Bond, Bill Guarantee)
  • ICC Publication No. 758, Direct Guarantee Letters and Counter-Guarantee Examples
  • Surety Bonds

3. Legal Basis of Guarantee Letters

  • Surety Letters in Turkish Law
  • Banking Law
  • Law No. 1567 on the Turkish Public Procurement Authority
  • Debts Act
  • Provisional Restraining Order
  • Parties to the Letter of Guarantee
  • Change of Parties
  • Types of Domestic Guarantee Letters
    • In Terms of Maturity
    • In Terms of Limit
    • In Terms of Loan Collateral
    • State Procurement Law, Public Procurement Law
    • By Currency of Issuance
    • By Subject Matter
    • Provisional Guarantee Letters
    • Advance Guarantee Letters
    • Open-Ended Guarantee Letters
  • Issuance of Guarantee Letters
  • Termination of the Bank's Liability
  • Examination of Claims for Compensation

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Authorised personnel, specialists, and managers working in the relevant departments of participation banks may participate.