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Bill avalization is an undertaking by the guaranteeing bank in addition to the payer’s obligations, i.e. it is an undertaking to pay a bill of exchange in full or in part instead of one of the parties obliged under the bill in case the payer fails to honour the bill as per terms stated in the bill.
Settlements by bills avalizing is simple in view of docflow and provide the payer with possibility to receive a commodity credit without withdrawing funds from its turnover.
JSC “PIRAEUS BANK ICB”offer services of bill avalization for enterprises, which operate in the agricultural sector on the following terms: