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Letters of guarantee

Enhance your business credibility and competitiveness with domestic and international letters of guarantee. Apply online for domestic letters of guarantee or book an appointment at a branch.

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Online or at a branch, for any need

From your computer
Apply for a domestic letter of guarantee online with eLG and come to a branch to pick it up.
By appointment at a branch
Get an international letter of guarantee by booking an appointment at a branch near you.
Complete overview
Get access to a full history of all the letters of guarantee you’ve had issued.
Guaranteed business relationships
Expand your business activities with stronger partnerships and better terms.

Guaranteed credibility for your associates

Boost your business image and make the most of new opportunities the minute they arise.

With a letter of guarantee, we guarantee to a 3rd party (a company or the State, in Greece or abroad) that we will compensate them if your business fails to meet its contractual obligations. 

This way, you enhance your business credit rating and can strike more favourable business deals.

An LG is not a loan, as we are not offering the money in advance. However, it is a credit product, as we undertake the risk for you. This is why you need to have a credit limit.

Find the LG you need

Learn everything about the 5 types of domestic and international LGs we offer.

To public or private organisations

With the participation in tender LG we guarantee you will fulfil the obligations arising from your participation in a public or private sector tender.

The LG amount is a percentage of the total project budget and covers the tender fees.

Participation in tender LGs (or bid bonds) usually have a short term.

To be awarded projects

With the performance LG we guarantee you will fulfil the terms of the contract calling for the guarantee.

The amount is usually a percentage of the total contract value.

Usually, a performance LG must be submitted at contract signing, and is released after the project is completed and the project owner signs the final acceptance.

To boost your liquidity

With an advance payment LG, we guarantee to the beneficiary that we’ll refund the advance payment they’ve given you if you ultimately fail to fulfil your contractual obligations to:

  • Finish the work.
  • Provide services.
  • Supply products or goods.
  • Meet any other obligation.

Guaranteed trustworthiness

With the payment LG, we guarantee you will meet your payment obligations to the beneficiary, such as:

  • Pay suppliers for products you've already received.
  • Pay other business debts.

This way, you can negotiate better payment or credit terms with your suppliers or strike new partnerships.

To collect payment without money retentions

When you complete part of a project, the project owner may retain part of your payment, to ensure the entire project is properly executed and completed.

With the retention LG we stand as your guarantors, and you collect the entire amount, without the retention.

How they make banking easier

Discover how our letters of guarantee make your day-to-day business simpler.

  • Enhance the credibility and reputation of your business.

  • Ensure your obligations will be met and negotiate better deals with better terms.

  • Pave the way for new partnerships and strengthen your existing ones.

  • Gain access to public and private tenders.

  • Apply for a new domestic letter of guarantee or amend and revoke those you already have from your computer, through business web banking.

  • Sign the application online through our integrated system for managing documents and requests.

  • Start your application for a letter of guarantee, save it temporarily and continue when you have the time.

  • Through your history, under “Letters of Guarantee”, you have access to all letters of guarantee, per category: active, cancelled, amendments, original issues.

Find out if you can apply for a domestic LG online

Have a look at the conditions for applying for a domestic letter of guarantee through eLG.

Apply for a domestic letter of guarantee online

Follow the steps to apply for a domestic LG through your business web banking.
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1. Start a new application

  1. Using your business digital banking credentials, log into business web banking.
  2. Go to Lending > Letters of guarantee > New application, from the home page.

2. Choose the type and fill in the details

  1. Choose the type of letter of guarantee you want to have issued from the drop-down menu.
  2. Enter the amount.
  3. Choose the currency, term and expiry date (for fixed-term letters of guarantee)
  4. Choose “Continue”.

Your business credit limit must be sufficient. If it’s not, we inform you that you cannot continue.

For a letter of guarantee in foreign currency, changes in the exchange rate may affect the amount in euro charged against your credit limit at the time of issue.

3. Enter the beneficiary’s details

Fill in the details depending on letter of guarantee type you’ve chosen.

Choose “Continue”.

If you wish, you can save the application and continue later.

4. View the draft

Review the text and choose “Accept” to confirm the details are correct.

Once the application is submitted, the text cannot be modified.

5. Fill in the details for pick-up and payment

  1. Choose the branch where you’ll pick up the letter of guarantee.
  2. Find out about the indicative cost and choose an account to be charged.
  3. Upload the necessary supporting documents for the tender notice. You can upload up to 15 files. Each must be up to 15MB in size.
  4. Choose the representative or representatives of your business who can sign the application.
  5. Choose “Continue”.

6. View the application

Review the information you’ve entered. If it’s correct, choose "Submit”.

New to Alpha Bank?

Find out how to start banking with us based on the legal form of your business.

For freelancers

Open a business account and get business digital banking credentials, provided you already have personal ones.
Open an account

For registered companies with 1 representative

Open a business account and get business digital banking credentials, provided you already have personal ones.
Open an account

For businesses with 2+ legal representatives

Schedule an appointment at a branch to start banking with us and sign up to business digital banking.
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No digital banking?

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For freelancers or companies with 1 representative

Get business credentials, provided you already have personal ones or hold an active Alpha Bank card.

Sign up to business digital banking Sign up to business digital banking

Get personal credentials

If you haven’t already signed up

Get personal digital banking credentials in a flash through your mobile or computer.

Sign up to personal digital banking Sign up to personal digital banking

Explore other options

Find other products that may interest you.

For imports and exports

Letters of credit

From your computer

Issuing certificates

For the domestic and international market

Factoring and forfaiting

Any questions?

Find the answers you need about domestic and international letters of guarantee.

What documents do I need to apply for a letter of guarantee?

Participation in tender

  • Tender notice
  • Call
  • Call for expression of interest

Performance

  • Contract you have signed or draft contract
  • Letter of project award
  • Award decision

Payment

  • Invoices
  • Proforma invoices
  • Order
  • Quote
  • Contract

Advance payment

  • Contract
  • Proforma invoices
  • Order or quote

Retention

  • Contract
  • Letter of project award
  • Award decision

How can I amend my letter of guarantee?

Provided you asked for the letter of guarantee to be issued online:

  1. Log into business web banking with the digital banking credentials of your business.
  2. Under Lending > Letters of guarantee choose the one you are interested in.
  3. Click on the menu to the right and choose “Amend”.
  4. Choose a purpose, “Amount increase”, “Term extension” or “Tender date change”.
  5. Fill in the new amount or new expiry date or new date, depending on the purpose for the amendment.
  6. Review the text and choose “Accept” to confirm the details are correct. Once the application is submitted, the text cannot be modified.
  7. Fill in the details for pick-up and payment, and upload the necessary supporting documents.
  8. Review the information you’ve entered. If it’s correct, choose "Submit”.
  9. Sign the application form online within 15 days, provided you are the legal representative or 1 of the legal representatives.

How can I amend my letter of guarantee?

Yes, if you want to:

  • Increase the amount.
  • Extend the expiry date.
  • Change the tender date.

Find out in detail how to amend an LG.

To reduce the amount of the letter of guarantee, book an appointment at a branch near you.

View all the FAQs

Get a letter of guarantee

Apply through your business web banking for a domestic LG and by appointment at a branch for an international LG.
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