Bank guarantees
Guarantee for Warranty Obligations

Application Area
For foreign trade activity, domestic trade and industry where the guarantee is most often a surety .


Purpose
Securing against claims by the buyer on the seller that would occur as a result of defects appearing after the delivery.


Guarantee Amount
Usually from 5% to 20% from the contract value.

Term
Depending on the character of business. Usually 1 year after the delivery or commissioning of the project.