A teminat mektubu for a tender, customs or a landlord: what the bank will ask before it issues one
A teminat mektubu is a bank's written undertaking to pay a named beneficiary up to a stated amount if you fail to perform — required by public tenders under the Public Procurement Law (temporary and final security), by customs for deferred duties and regimes, by landlords of commercial premises and by large suppliers. The bank issues it from a credit limit it grants you after a credit review, against collateral it accepts, and charges a periodic commission. We prepare the application pack, explain the collateral options the bank will list — factually, with their costs — check the letter's wording against the beneficiary's template, and track issue and release.
Price — one letter, one bank
State fees and the notarial tariff are paid by you directly to the state or to the notary. We are not a notary and receive no remuneration from any notary, bank or lawyer.
Last verified: 24.10.2026 · source: Public Procurement Law 4734 arts. 33–34, 43 — mevzuat.gov.tr; customs security — ticaret.gov.tr; BDDK — bddk.org.trPilot price, valid until 31.12.2026, incl. KDV. Bank fees, state fees and the notarial tariff are separate and paid by you to them.
Types, beneficiaries and the usual collateral
| Purpose | Letter type | Beneficiary's rule |
|---|---|---|
| Public tender bid | Geçici teminat — temporary security | Not less than 3% of the bid price (Law 4734 art. 33); validity per tender document |
| Public contract award | Kesin teminat — final security | 6% of the contract price (art. 43); released per contract terms |
| Customs regimes, deferred duties | Gümrük teminat mektubu | Amount and wording set by customs; your broker confirms |
| Commercial lease | Kira teminat mektubu | Landlord's template; months of rent; expiry matters |
| Supplier or advance payment | Avans / performance letter | Counterparty's template; often definite-term |
| Collateral the bank may accept | What it costs you |
|---|---|
| Cash or deposit blockage (nakit blokaj) | Your liquidity tied up; lowest commission |
| Mortgage on property | Valuation fee, tapu harç, time |
| Counter-guarantee from a foreign bank | Foreign bank's fee; wording negotiation |
| Clean limit on financials | Only for established companies with audited figures |
| Personal surety of shareholders | Personal liability — read before signing |
Which collateral is accepted, the commission and the limit are the bank's decision. We explain each option factually; we do not advise which to choose.
How it works
Beneficiary's requirement
Send the tender document, the customs regime description from your broker, or the lease clause. We extract the amount, type, validity and the exact wording the beneficiary requires.
Credit-file pack
You receive the list in the bank's order — financials certified by your SMMM, registry documents, signature circular, the contract or order behind the letter — and the collateral options table with costs.
Application and wording
We draft the application cover in Turkish for your signature, check the bank's draft letter word for word against the beneficiary's template, and accompany you to the branch with a sworn interpreter.
Issue, delivery, release
We collect the original where the bank issues paper, deliver it to the beneficiary in İstanbul, and put the release date in your calendar so the commission stops when it should.
Typical cases
- Foreign-owned contractor bidding in a municipal tender; temporary security at 3% of the bid, validity to match the tender; the bank wants financials the company does not yet have.
- Importer entering a customs warehouse regime; the broker gives the amount; the bank wants the customs wording exactly.
- Office lease in Levent; landlord wants six months' rent as a letter; the bank asks for cash blockage from a new company.
- Supplier abroad asks for an advance-payment letter; the bank wants a counter-guarantee or cash.
- Letter expired but never released; commission still running; the beneficiary must return it or confirm release.
What can go wrong
- Wording differs from the template. Tender commissions reject letters with a changed word; customs too. Check before issue, not after.
- Validity too short. A tender letter must be valid for the period in the tender document, usually bid validity plus a margin.
- Not understanding the collateral. A personal surety is personal. A blocked deposit is unavailable. Read the collateral options table before the branch.
- Forgetting the release. Banks charge commission until the original is returned or the beneficiary releases it in writing.
- Treating the letter as a loan. If the beneficiary calls it, the bank pays and you owe the bank immediately, with its default rate.
Questions
Can you get the bank to issue the letter?
No. The bank grants a non-cash credit limit after its own credit review and issues the letter against collateral it accepts. We prepare the file so the review has what it needs and we check the wording; the bank decides.
How much does a letter cost?
The bank's commission under its tariff, typically a percentage per quarter on the letter amount, plus collateral costs and stamp duty where applicable. We put the bank's current figures into your options table; we receive nothing from the bank.
What do public tenders require exactly?
Under Law 4734 the temporary security is not less than 3% of the bid price and the final security is 6% of the contract price; letters must follow the standard forms in the tender regulations and be valid for the periods stated in the tender document. Source: mevzuat.gov.tr.
Can a letter from a foreign bank be used instead?
For public tenders, a Turkish bank's letter or a foreign bank's letter counter-guaranteed by a Turkish bank is required; for private beneficiaries, whatever they accept. We confirm with the beneficiary's document first.
Related: corporate bank account · import/export document pack · Decree 32 / FX-contract pack · guide: customs broker and GTİP · back to banking & finance
Send the tender clause or the lease
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