Non Cash Loans | DenizBank
Non Cash Loans


Letters of Guarantee

A letter written by the bank to a governmental office, a public enterprise, a real person or a corporate body to undertake that a certain work, delivery or undertaking shall be performed, made or fulfilled within a certain period of time and under certain conditions, and that otherwise the bank shall pay unconditionally the amount which the party who undertook that certain work, delivery or undertaking has to pay in case of such failure.

Letters of guarantee can be issued in TL or FX depending on the customer’s decision. They can be issued for a certain or undefined validity term.

Letters of Reference

These are letters written by the bank for reference purposes, to be submitted by the customer to a tender announced by the Ministry of Public Works, departments of the said Ministry, other public enterprises or private sector companies. They can be issued in TL or FX.

External Guarantees:

These are non-cash loans in FX currency whose addressees are persons/institutions residing abroad.

These are for works that are undertaken abroad by entrepreneurs such as construction, installation works and mounting, engineering, projects, consultancy, transport or also for buyer companies abroad to guarantee the loading/delivery of goods purchased from export companies in Turkey and are issued by our Bank either directly or against counter guarantee.

Entrepreneurs are able to join tenders abroad alone or by establishing ordinary partnerships with local companies of the country. Banks are able to issue guarantees for these ordinary partnerships that Turkish entrepreneurs join.

Letter of Credit:

This is the type of credit whereby our bank guarantees that the good of requested features are purchased in return for the amount which the importer company pays or will pay on maturity and exporter collects the cost of the good under determined circumstances concerning imports transactions. The recipient’s bank undertakes that s/he will make payment to the seller via a bank in the exporter’s company against documents showing that the goods were sent within the determined period of time.

Letter of credit is the system of making payments against control of goods and documents that transfer ownership and banks that are institutions of trust are used in this system concerning international trade by buyers and sellers as being a reliable payment method.

Acceptance/Endorsement Loans:

It can be defined as our Bank’s guarantee to the seller company that goods that will be imported by the company at the end of a certain maturity without a payment with policy acceptance that the exporter company will endorse. In such credits, our Bank signs the drafts related to the importing of the company under the “avalist” title and it offers the aval credit to drafts that are accepted by the importer and have maximum one year maturity left.

In import transactions, payments based on Against Goods, Against Documents and Letter of Credit are arranged as policies under our Bank’s guarantee and turn into paper credit.

In the event aval credit is given to policies by the exporting bank, policies can be discounted at any bank and collected early.

Export Credit Agency (ECA):

These loans are generally extended through an intermediary bank in the country of importers. The export company receives advance payment from the intermediary bank and the importer makes the payment at maturities. The Bank of the importer signs a loan agreement with the Intermediary Bank and becomes a direct debtor or guarantor.

Payments at maturities are made again through the bank of the importer, therefore, the bank of the importer assumes the risk for the company. To obtain these loans, exporters apply to their country’s Eximbank with their project and request a middle-term loan for importers. Such loans are named differently depending on the country of exporters.

  • Hermes - Germany
  • Coface - France
  • Sace - Italy
  • US Exim - USA
  • OKB - Austria
  • ECGD - England
  • ERG - Switzerland
  • Ducroire - Belgium
  • Cesce - Spain

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