1. Success Story – Bank Guarantees recovered
Two Letters of Guarantee worth US$ 750.00.00 where successfully recovered by our
company, finally releasing the exporter (seller) from his obligation towards the issuing bank.
15 years ago the exporting company issued the l/g’s but did not succeed to get the
documents back after completion of the contract in 2001.
Only a few months ago we received the mandate to solve the case and can report now the
successful recovery of the Bank Guarantees.
Background
Issuing Letters of Guarantee (L/G) for an export order is daily business for exporters as well
as for banks. In most cases the documents are retuned after fulfillment of the contract and
the exporter is released from his obligations.
It can however also happen, that the buyer is not returning the L/Gs. This automatically
means that the exporter’s obligation towards his bank remains open and his credit rating is
reduced accordingly. It is therefore in the interest of every professionally operated company
to reduce debt obligations to an absolute minimum.
Do you like more information? Don’t hesitate to call me!
Biel-Benken, April 1st 2010
Export Howald Consulting LLC
Hauptstrasse 47, Bismarkstraße 2
CH-4105 Biel-Benken, DE-15566 Schöneiche / Berlin
Switzerland Germany
Tel. +41 (0)61 485 80 81 Tel. + 49 30 52 13 07 93
howald@howaldconsulting.com erich.howald@exconhowald.de
www.howaldconsulting.com https://www.exconhowald.de