Payment guarantee

Issued by the importer in order to ensure payment of the purchase made from their supplier, i.e., the exporter.

Normally once the guarantee has been received, the exporter will begin to manufacture the goods or will dispatch them if they are already in stock, because they can be certain that, even if their customer does not pay on the agreed date, by executing the guarantee and fulfilling the requirements indicated in the same they are guaranteed to collect payment.

A payment guarantee can also be issued for a service.