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A Kazakh Issuing Bank under the TFP opens a Letter of Credit to a foreign Confirming Bank, payable in several instalments before, at and after delivery
EBRD guarantees payment of amounts or tenors which are not covered by ECAs (max. 3-5 years )
Confirming Banks in the USA 600 Confirming Banks and subsidiaries in 66 countries, e.g. including 37 banks in the US: American Express Bank JP Morgan Chase Bank Banca Intesa National Bank of Alaska Banco Bilbao Vizcaya Argentaria National Bank of Canada Banco Espanol de Credito National City Bank Bank of New York Societe Generale Bank of Nova Scotia SEB BNP Paribas Wachovia Bank Citibank Wells Fargo HSBC Trade Bank Commerzbank Deutsche Bank HSBC Bank USA
75% of consultancies are in Private Sector Consultancies Good commercial practice/clients not required to use EBRD tendering process Private Sector Detailed rules/open tendering/EBRD oversees the process Public Sector Procurement methods