Bank guarantees

Widen your range of commercial transactions or put your business plans into effect

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  • Reduced transaction risks in international markets
  • Opportunity to take part in competition launched by the state or local authorities
  • Opportunity to increase security in export/import transactions
  • Large spectrum of guarantee types
  • Fast guarantee formation
  • Guarantee regulated by international regulations

Bank guarantees give businesses the opportunity to

  • Take part in procurements advertised by the state, local government and other organisations, which require secured liabilities
  • Guarantee timely income for work done and/or goods delivered
  • Reduce the risk of international trade transactions
  • Ensure the fulfilment of liabilities from both local and international contracts

Possible types of collateral

  • Money in your account to the sum of the guarantee
  • Deposit of funds
  • Real estate belonging to the business or a third party
  • A commercial pledge on assets belonging to the business
  • Guarantees from private persons or other businesses
  • Counter guarantees from other banks or other collateral accepted by the bank

If collateral from the business is not sufficient, it is possible to add a pledge from ALTUM.

Guarantees suitable for the needs of your business

  • Tender guarantee
  • Advance payment guarantee
  • Performance guarantee
  • Payment guarantee
  • Rent payment guarantee
  • Warranty period guarantee
  • Facility guarantee
  • Customs procedure collateral guarantee

To form a bank guarantee, you will need to

  • Open a checking account at the bank;
  • Hand in a completed Application for Issuing a Bank Guarantee to the bank (pdf);
  • Hand in a buying-selling contract or a procurement regulation and/or other documents applicable to the transaction to the bank
  • At the request of the bank, hand in extra documents and information to make a decision (the business’ balance, calculation of earnings or loss etc.)
  • Come to an agreement with the bank about the conditions of the guarantee;
  • Sign a contract with the bank about issuing a guarantee.

Want to learn more?

Call or write

67010907, 67010512