Bank Gaurantee

Advantages for You

  • The obligations of an instructing party are secured in a top-quality manner.
  • The supplier and buyer risks are reduced.
  • The company gains a competitive advantage in business and its credibility is strengthened.
  • The company is given access to funds.

Detailed Information

Refer to our List of Fees for complete information about the pricing

With bank guarantees, you can enjoy a specific form of guarantee provided by a bank for the obligations of suppliers or buyers. The bank guarantees can be used to secure pecuniary and non-pecuniary obligations arising from a contract, order, etc.

Main features of the Bank Guarantee:

  • The pecuniary and non-pecuniary obligations of a client are secured.
  • In case of non-performance of obligations, the entitled party (in general, your business partner) is satisfied up to the sum covered by the guarantee provided.
  • Performance under the guarantee is provided in pecuniary form.
  • Both the legitimate and illegitimate drawing of a guarantee can be insured with EGAP.
  • The bank guarantees can cover:
    • non-pecuniary obligations (of a client) – due performance of a contract, participation in a tender, advance payment, warranty period, deferred payment, and many others
    • pecuniary obligations (of a client) – repayment of obligations under a loan / leasing agreement, rent payments, customs guarantees, electronic toll collections, and many others 
    • binding commitments given by a bank in respect of bank guarantees

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