Bank guarantee

Payment guarantee – if you are an importer paying for goods after a certain period of time following delivery

Advance guarantee – if you are paying an advance to your seller but want to recover it if delivery is lacking or inadequate

Bid Bond – if you are participating in a competition (tender)

Performance Bond – if you have concluded a contract and are obliged to provide this type of guarantee under the contract.

Which bank should issue the guarantee?

The guarantee may be issued by your bank or by a foreign bank.

What security is acceptable to the guaranteeing bank?

1. Financial coverage in the amount and currency of the guarantee for the effective period of the guarantee.

2. A deposit placed with the bank in the amount and currency of the guarantee, for a term at least 2 days longer than the effective term of the guarantee.

3. If you are unable to provide funds or place an appropriate deposit, you may apply for a credit limit secured by real estate, assets, sureties from third parties etc.

Bank guarantees

Security of payment obligations

What we offer

By issuing a guarantee, a bank provides payment on behalf of its client, undertaking to settle a substantiated claim presented in writing

We issue guarantees to local and foreign beneficiaries (business partners of our clients) on the basis of a Guarantee application

We issue guarantees for the benefit of a foreign correspondent bank that issues its guarantee to your partner in a foreign country

We advise (transfer) guarantees to our clients which have been received from foreign banks as requested by business partners of our clients

Frequently asked questions

If you want to learn more about the bank guarantees, please provide your contact details and we will get in touch with you shortly!