A bank guarantee is an irrevocable guarantee document issued on behalf of the Applicant to another party (Beneficiary), securing any payment against the submission of a written demand or a document(s) provided for in the guarantee agreement.
Conditions:
The amount: 100 - 5 000 000 up to AZN (credit can be provided in AZN or equivalent income in USD/EUR)
Duration: up to 36 months
Interest: varies depending on the amount, the term and whether the entrepreneur uses other products of the bank
Collateral: real estate, cash collateral, unsecured collateral, household items, property, collateral, bank guarantee, etc. sisminde chihysh ede hostage.
The main advantages of using the guarantee products of Bank Respublika:
- Guarantee costs are lower than the costs of the loan
- Prompt approval of guarantee
- Minimal document requirement
- No additional costs, such as insurance or valuation
- Issue of guarantees with the approval of the world's leading banks (including Commerzbank, Raiffeisen Bank International, and others)
- Possibility to issue guarantees without collateral (depending on the entrepreneur's financial performance and use of other bank products)
- Individual approach to customers
- Possibility to carry out trade activities without attracting additional financial resources
- Opportunity to use the experience of bank employees in preparing the payment terms of trade agreements
The advantages of bank guarantees for a Seller:
- Elimination of the risk of non-payment
- Opportunity to participate in tenders for large projects
- Feeling secure due to bank guarantee in case of default
- Opportunity to receive an advance payment, which is more profitable than borrowing in local currency
The advantages of bank guarantees for a Buyer:
- Elimination of the risk of non-fulfillment of contractual obligations by the Seller and of non-conforming quality of goods
- Possibility to make an advance payment to the Seller and demanding a refund of the advance payment if the Seller fails to perform his duties
- Opportunity to repeat transactions with a bank guarantee issued for the benefit of regular partners
- Opportunity to use financial resources more efficiently, keeping the Buyer free from advance payment
Bank Respublika offers the following guarantees to its customers:
- Payment Guarantee
- Bid Bound
- Performance Bond
- Advance Payment Guarantee
- Customs Guarantee