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Bank Guarantees

The Bank Guarantees is an irrevocable undertaking of a bank to pay a certain amount to the beneficiary of the guarantee if the bank's customer has failed to fulfil his obligations towards the beneficiary.

Benefits for the buyer/importer:

  • the opportunity to participate in the delivery of goods and rendering of services for state and municipal customers;
  • the possibility of supplier credit;
  • the ability to return the advance payment paid;
  • generally, the guarantee fee is lower than the interest on a loan.

Benefits for the seller/customer:

  • high reliability;
  • ensuring implementation of contractual obligations;
  • encouraging customer to accurate and timely implementation of its contractual obligations;
  • support for the seller/customer in assessing the financial position of a buyer/contractor.

CJSC Bank of Asia provides the following types of bank guarantees:

  • payment guarantee;
  • advance payment guarantee;
  • contract performance bond;
  • tender guarantee.