Payment guarantee – if you are an importer paying for goods after a certain period of time following delivery
Advance guarantee – if you are paying an advance to your seller but want to recover it if delivery is lacking or inadequate
Bid Bond – if you are participating in a competition (tender)
Performance Bond – if you have concluded a contract and are obliged to provide this type of guarantee under the contract.
The guarantee may be issued by your bank or by a foreign bank.
1. Financial coverage in the amount and currency of the guarantee for the effective period of the guarantee.
2. A deposit placed with the bank in the amount and currency of the guarantee, for a term at least 2 days longer than the effective term of the guarantee.
3. If you are unable to provide funds or place an appropriate deposit, you may apply for a credit limit secured by real estate, assets, sureties from third parties etc.