These instruments guarantee monetary responsibilities, and are divided into:
- Commercial Guarantees: used for commercial operations to guarantee the payment thereof, deferred or otherwise.
- Financial Guarantees: these correspond to the guaranteed partyâ€™s payment obligation taken on with another Credit Entity. Generally, they are for credits or loans obtained by the customer and guaranteed in relation to other Financial Entities, directly requiring Cajamar Caja Rural (guarantor) to reimburse said entities.
Pecuniary responsibilities can be:
- Guaranteeing loans or lease deals.
- Spreading payments.
- Bills of exchange and promissory notes.
- Setting up letters of credits (irrevocable or revocable).
And any other responsibility that is strictly monetary.