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A bank guarantee is an undertaking by a bank to pay the guarantee beneficiary a specified amount upon a written demand if the Bank's client fails to fulfill his obligation.


Types of guarantees issued by our Bank or organized by us from larger international financial institutions:

  • tender guarantee (security deposit)
  • performance bond
  • guarantee of payment, e.g. for purchased goods or services  

Who can apply for a bank guarantee 

Enterprises with acceptable rating of A or better by reputable institution which keep complete company books as defined in the Accounting Act

Features of bank guarantees 

Minimum guarantee amount: 0,5 million Euros or equivalent in another currency 

Maximum guarantee amount: not defined 

Currency: EUR, USD, CHF, RUB, CNY

Validity period: up to 1 year for clients with established credit history in our bank, over 1 year and not more than 10 years on condition of full coverage in the form of a deposit

Collateral 

- a declaration of submission to the enforced debt collection procedure as defined in the Banking Act 

- blank promissory notes 

- irrevocable authorisation for the Bank to use deposits in the current account held at the Bank 

- other collateral types acceptable to the Bank

From the Lawfirm Simmons & Simmons