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Avalization is a method of the PJSC “MTB BANK”, the obligation to pay the bill fully or partially on behalf of one of the parties being under obligation to pay the bill during payment of the bill by the payer in time or in case of impossibility to obtain the bill payment in due time.
Avalizing the bill PJSC “MTB BANK” assumes liabilities of the drawer of the bill on paying the sum stated in bill and also the conditions of its payment in case of non-payment of the sum conditioned in the bill.
This service is convenient as an additional guarantee to the party that in the flow of its economic activity obtains the bill as a form of payment for delivered goods or services. Actually the bill avalized by the PJSC “MTB BANK” is a payment instrument with bank guarantee.
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