Board of Directors discussed the insurance letters of credit and letters of guarantee exaggeration to private banks under the corporate book CBI / Directorate General to monitor the banking and credit / Department of Studies and Research in Banking Issue 03/09/22 01/28/2013 and approved application instructions below for submission to the Commission public Bank in the next annual meeting to discuss the final accounts as at 31/12/2012 for approval.
1- Documentary credits:
Insurance 25-30% by
A – type of goods
B – insurance rate determined by the Bank sender
2- Letters of Guarantee
A- in the case of a collateral (real estate – stocks – bonds – a deposit) or a sponsor has to be above insurances
And commissions are as follows:
First – entry tender: insurances 10% commission and 1 thousand a month or fractures
Second – good execution: insurances% and 15% commission 4/3 thousand a month or fractures
Thirdly – operational advances: Insurance commission and 25 2/1 per thousand per month or fractures
B – in the absence of guarantees above:
First – entry tender: Insurance 10% commission and 1 thousand a month or fractures with providing
Guarantees below:
1. The amount of the letter of guarantee instrument +20% of the amount of speech (no date)
2 – promissory note amounted letter of guarantee
3 – sponsor known by the bank
Second – good execution: Insurance 100% commission and half thousand a month or fractures
Thirdly – operational advances: Insurance 100% commission and 2.1 per thousand per month or fractures
C- in the absence of guarantees and the customer has a reputation for high ethical
First – entry tender: Insurance 10% commission and 1 thousand a month or fractures
Second – good execution: Insurance 25% commission and 1 thousand a month or fractures
Thirdly – operational advances: Insurance 50% commission and 1 thousand a month or fractures
And guarantees in the cases above (paragraph c)
Instrument the amount of the letter of guarantee + 20% of the amount of speech (no date) with a promissory note in the amount of speech Escrow
D- foreign companies:
Log tender, good execution, the predecessor of operational
Insurance 10% commission and 1 thousand a month or fractures with guarantees of a letter of guarantee
Back to Back insurances 100% or 150% of real estate collateral Sawa name of the company or on behalf of
Others were held for the benefit of the bank