PSB is being developed by Pooya Paridel.
Letter of Guarantee and Its Varieties
Procedure for Issuing Guarantee
Commission for Issuing Letter of Guarantee
Collaterals and Guarantees
Extension, Reduction, Cancellation
Seizure and Payment of Guarantee
Type of Accounts
Foreign Exchange
Back Guarantees
SMS Banking
Internet Banking
Telephone Banking
Commission for Issuing Letter of Guarantee
Commission for issuing letter of guarantee is calculated on the basis of difference between the original letter of guarantee and cash deposit given to the bank as security in relation to duration of the guarantee. Commission for extending a letter of guarantee is tantamount to commission for issuing it. If the amount of guarantee is reduced, the commission could be reimbursed in proportion to reduction in guarantee and remaining time of bank guarantee before maturity, after deducing one month in favor of the bank. Please note that the minimum commission for issuing the letter of guarantee is not refundable.
The following table shows maximum commission for issuing various types of bank guarantee:  

Type of CollateralCommission for participation in tender bid or auctionCommission for other guarantees
100 percent cash5000 Rials5000 Rials
Demand deposits; bonds0.5% per year0.75% per year
Stocks, bill of general warehouses1.5% per year2% per year
Promissory note endorsed by creditable guarantor1.75% per year2.25% per year
Immovable property1.5% per year1.75% per year
Domestic bank guarantee1% per year1.25% per year
Foreign bank guarantee1.5% per year2% per year