Bank guarantees
Advance Payment Guarantee
Application Area
For foreign trade activity, foreign trade exchange, trade and industry.

Purpose

Reventing from claims by the buyer on the seller for reimbursement of advance payments of the buyer under the contract price paid before delivery of the goods (or advance payments for the full contract price) – in case the seller has failed to fully meet his contract obligations.


Guarantee Amount

The amount of the installments or of the advance payments.


Term
The period of delivery of the goods or services increased by a preliminarily specified term (e.g. 15 days).