Letters of Intent
The Bank issues the letters of intent at the written request of the Client, and against the documentation necessary to determine the basis for issuing of the letter of intent.
NON BINDING LETTER OF INTENT
A non-binding letter of intent implies that the Bank does not assume any material or any other obligation, or the responsibility for business conduct of the Client in relation towards third person.
BINDING LETTER OF INTENT
If the Bank assumes any responsibility or obligation to issue a guarantee, i.e. grant a loan, or any other balance or off-balance placement in case of fulfillment of conditions provided for, a binding letter of intent is issued.
For issuance of a binding letter of intent, the terms and conditions of approval for a product under which the binding letter of intent is issued, are applied.
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