Trade financing

Bank guarantees

Financial product, representing a written irrevocable commitment undertaken by the Bank for payment by order of a client-orderer to a beneficiary of a certain amount, in case of non-fulfillment of obligations.

  • Guarantees for participation in an auction - issued in favor of the organizers of the auction to guarantee the conclusion of a contract by the ordering party or the fulfillment of the offer submitted by the ordering party;
  • Guarantees for return of an advance - issued to guarantee the return of an amount received in advance under a contract between the ordering party and its counterparty - beneficiary;
  • Guarantees for good performance - issued to guarantee the exact fulfillment of the obligations of the ordering party under a contract with a beneficiary;
  • Guarantees for fulfillment of a monetary obligation - issued to guarantee the payment of the ordering party in favor of his creditor, under a contract concluded between them;
  • Limit for multiple bank guarantees - represents the current limit set by the Bank, up to the amount to which it undertakes to issue guarantees. The total amount of valid guarantees issued under the contract may not exceed the agreed limit. With an approved common limit, one have the opportunity to quickly issue multiple individual bank guarantees.