The bank letters of guarantee

Bank letters of guarantee are documents which are issued by the bank in order to reassure the debtee's damages which may emerge in the possibility that the obligor does not fulfill its liability at all or as is due. These letters of guarantee have emerged by implementation and have gained importance over time. The reason why bank letters of guarantee, which have become a typically used means to construct trust between the parties of contract, are mainly preferred is that banks are nominal institutions that give confidence. Since it is in a strong position economically, with this guarantee given by the banks, the problem of trust in the debtee's aspect was struggled to be disposed to a considerable extent. For the reason it does not have a legal regulation, there have been ongoing debates in the doctrine as regards to legal qualification of bank letter of guarentee. In line with decisions of the unification of conflicting judgments dated 1967 and 1969 given by the Court of Cassation, they are interpreted as a commitment to the act of the third person. Together with these decisions, the differences of opinion in the doctrine as regards the legal qulification have been replaced by the common admission that bank letters of guarentee are contract of guarantly. Nevertheless counter to this common admission, as there is no legal regulation in our law about it and it is an institution that progresses with mainly implementations, it was regarded necessary to be a subject of study. Keywords: Bank, interlocutor, letter of guarantee, beneficary, risk