Foreign Letters of Guarantee


Foreign Letters of Guarantee refer to those guarantees when instructions are given by AJIB to another bank outside Jordan, requesting to issue their guarantee on AJIB’s behalf or when other correspondent banks request AJIB to issue a local guarantees on their behalf. Namely it is a Counter-Guarantee, which is an undertaking given by the Counter-Guarantor to another party to procure the issue by that other party of a Guarantee.