Does your business partner require a guarantee that you will deliver a contract in an agreed quality and quantity? Are you concerned that your customer will not pay for your goods or services? Make use of the services of UniCredit Bank, one of the leaders in providing bank guarantees. We will help you select a suitable type of guarantee and prepare its wording as per your requirements.
A bank guarantee is created upon a written declaration of the issuer in a guarantee document that it shall satisfy the creditor under the guarantee document up to a certain financial amount provided the debtor fails to discharge a certain debt towards the creditor or provided other conditions set forth in the guarantee document are met. Guarantee documents must be in writing.
Bid Bond, Tender Guarantee: Covering a bidder’s commitment to adhere to the terms and conditions of its bid presented for tender.
Performance Bond: Covering the contractor’s commitment to duly meet the terms and conditions of a business contract.
Advance Payment Guarantee: Covering the refund of advance payment made by a customer to the contractor should the contractor fail to meet its contractual obligations.
Retention Money Guarantee: Providing for the refund of retention money to a customer should the contractor fail to meet the contractual obligations arising from the contract within the warranty period.
Payment Guarantee: Providing for the fulfilment of a customer’s payment obligations arising from a business contract to the contractor.
Other types of guarantees: a guarantee for the guarantee period, guarantee for rent, guarantee for electronic tolls, guarantee for credit, guarantee in favour of the Agricultural Payment Agency, customs guarantee, guarantee for excise tax, guarantee for value-added tax.