Shalom My name is Michael Decker and I'm a lawyer within the law offices of Cohen Decker Pex and Brosh today. I wanted to discuss the topic of bank guarantee but I wanted to specifically address this topic as it relates to the issue of immigration to Israel. So first of all what is a bank Guarantee a bank guarantee is the type of guarantee that exists in Israel which is one of the highest forms of guarantees. There are various guarantees that exist such as an open cheque that you can give to someone or a debtors note that you can give to someone which basically doesn't have actual cash behind it because the check might have no money in the bank behind it and a Debtors Note Might also not have any money in the bank behind it. And then the person that has the debtors or an open check will need to go to the collection agency and try to collect the funds from the debtor a bank guarantee, however, is guaranteed by actual money that's sitting in the bank account of the person that issued the bank guarantee in order to issue a bank guarantee one must go to their bank and the bank will basically write a letter to the beneficiary of the bank guarantee whereby if the beneficiary requests the money the money is basically put aside in the account and the bank will transfer the money to the beneficiary. Many times the Interior Ministry subjects as a condition to granting a visa that a bank guaranteed to be deposited many of our clients that receive such letters do not know what to do.
So if someone recived such a letter and as I just mentioned they must first go to the bank and ask their bank to formulate a Bank garentee note and if the banker have questions about the specifick format of the bank garentee you are of course invited to contact us and we'll be happy to help you with this issue and After a bank guarantee note is issued then you must go to the airport to the Interior Ministry office that's basically open there 24 7 and you give them this banke garentee together with a decision that was made by the Interior Ministry whereby a bank garentee must be deposited You will get receipt that you deposited the bank gaentee and in addition you will get a letter called an obligation of exit from the country that you will need to take with you together with the decision that was made by the Interior Ministry to the relevant office of the Interior Ministry that issued the letter and after you go to that office with the proof that the banke garentee was deposited then the Interior Ministry office that issued the letter will also issue a visa to the person that The visa was approved but was subject to the deposit of a banke garentee Thank you very much for your time and it's our pleasure to be of service to you and please feel free to contact us.