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 customs clearance of goods arriving under import contracts;
- Guarantee for participation in tenders;
- Warranty on obtaining a license for a customs warehouse;
- 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:
- Application for a bank guarantee;
- A business plan indicating the analysis of cash flows for the entire period of use of the guarantee;
- The balance sheet (form No. 1) and the statement of financial results (form No. 2) of the principal for the last reporting period, as well as acts of reconciliations on debts for a period of more than 90 days;
- The audit report on the results of the last three financial years.
If necessary, the Bank may request additional documents relating to the project.