Guarantee - a written obligation provided by a bank (guarantor) at the request of another person (principal) to pay the principal creditor (beneficiary) in accordance with the terms of the obligation given by the guarantor, a monetary amount upon presentation by the beneficiary of a written demand for its payment.
Guarantees are issued for the following purposes:
- Payment guarantee;
- Advance Payment Guarantee;
- Performance Guarantee;
- Warranty on deferred payment of mandatory customs payments;
- Guarantee for participation in tenders;
- other purposes not prohibited by law.
Terms of Service:
- Interest rate - in accordance with the bank's tariffs;
- Collateral under guarantee is a pledge of liquid property satisfying the Bank (real estate, equipment, vehicles, cash) in the amount of not less than 125% of the guarantee amount.
To obtain a guarantee, the principal shall submit to the Bank the following documents:
- Warranty application;
- Cash receipts (cash flow), which include entire period of use of the guarantee, are projected binary business plan or accounts;
- Financial statements of the borrower for the reporting periods (accounting balance sheet and financial result statement);
- Warranty support documents.
- The audit report on the results of the last three financial years.
If necessary, the Bank may request additional documents relating to the project.
