Bank Guarantee

Our bank guarantee will help you realise your financial goals: in any situation (within the scope of the guarantee) we will confirm that you will fulfil your obligations.

Bank guarantee is an irrevocable commitment whereby the bank (guarantor) undertakes to pay to the beneficiary (in whose favour the guarantee is issued) a defined amount of money, if the bank’s customer (principal) defaults on his contractual obligations.

A bank guarantee is not a bank’s direct undertaking to pay. Rather, it is an undertaking of a bank on behalf of its customer. A bank guarantee is used as a protection against non-fulfilment of another’s contractual obligations in trading and other activities.

• Bid Bond (Tender Guarantee)

  Tender Guarantee is used if you participate in international public tenders: it guarantees the reimbursement of expenses incurred by the tender’s organiser if the winning bidder refused to sign the contract or withdraws its bid.

• Payment Guarantee

  Payment Guarantee, like a documentary credit, is used to secure the buyer’s payment obligations under the relevant contract. However, payment guarantee is simpler to implement.

• Performance Bond

  Performance Bond is a promise given by us to assure payment (up to a certain amount) to the beneficiary if the customer client fails to perform his contractual obligations. The bond ensures that contractors deliver quality work on time.

• Advance Payment Guarantee

  Advance Payment Guarantee is used if the contract stipulates an advance payment in the seller’s favour. Under an advance payment guarantee, the advance payment has to be refunded to the buyer if the seller fails to meet his commitments to deliver goods or services.