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GUARANTEES FOR YOURSELF AND YOUR PARTNERS In the international commerce, business partners frequently face a similar problem: for the Vendor, it is difficult to class the paying capacity of the Purchaser, whereas for the Purchaser, it is difficult to class the ability of the Vendor to perform his obligations and the trade and financial capabilities of the Vendor. Thus, the partners need to secure the performance of their obligations, and it is a bank guarantee that serves for such purposes.
- Bank guarantee means a bail provided by a guarantor bank securing the performance of money liabilities and other obligations of its client. By virtue of a guarantee, the guarantor bank shall issue, at a request of its client (the Principal) a written commitment to pay to the beneficiary an amount stipulated by the conditions of the commitment issued by the Guarantor against a presentation by the Beneficiary of a written demand for payment.
- The Bank will grant payment guarantees to secure the performance of payment obligations of Ukrainian importers (principals) to the foreign exporters (beneficiaries).
- The Bank will grant contract performance guarantees (tender guarantees, money back guarantees, contract performance guarantees) to secure the performance of obligations of Ukrainian exporters or contractors (principals) to the foreign importers or customers (beneficiaries).
- Money back guarantee is a guarantee granted by a bank, at a request of the Exporter (Principal), in favour of his foreign partner (Beneficiary) in order to secure paying back of the advance payment to such foreign partner in case of non-performance of the contractual obligations by the Exporter.
- Contract performance guarantee is a guarantee granted by a bank in order to secure the due performance of the contractual obligations of the Exporter.
WHY KREDITPROMBANK?
- Kreditprombank may both issue its direct guarantee and provide for an issue of a guarantee by a first class foreign bank.
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8-800-507-90-90, 8 (044) 490 27 77
