A bank guarantee implies an  absolute and irrevocable obligation of the bank to pay a specified amount of money if the party for which the bank is giving the guarantee does not fulfil its contractual obligations. This ensures the payment will be made as long as the services are performed. It  is an undertaking from a bank to pay  a sum of money to a beneficiary where the sum is only paid if the opposing party does not fulfill the stipulated obligations under the contract.

We offer a variety of guarantees to our clients according to the requisites of the deal:

•    An advance payment guarantee – This is a very useful tool when the contract provides for an advance payment to be made to the seller, and guarantees that the advance payment will be returned to the buyer if the seller does not fulfil its obligations on delivery of goods or services.
•    A performance guarantee – This is used to give strength to the contractual relationship between a buyer and a seller. It guarantees compensation of the stipulated amount in case the delivery terms or other contractual obligations of the seller are not fulfilled as agreed upon in the contract.
•    A tender guarantee (bid bond) – this is used for participation in international tenders, such a guarantee covers the organizers’ expenses in case when a participant revokes its bid or does not accept the offer.
•    A payment guarantee is used to guarantee the seller that the buyer will fulfill its payment obligations as stated in the contract.