The bank guarantee enables a company to reduce any risks arising from contracts, to receive fast monetary compensation and avoid any risks related to prepayments. The guarantee type depends on the specific guaranteed obligation.
CONDITIONS
The conditions are established by the bank according to the guarantee type and the risk level of the customer.
Documents required for applying for guarantee:
- Loan application on the bank’s form.
- Annual reports for two previous financial years, the balance sheet and income statement for the last quarter of the current financial year.
- In case of an investment project, a detailed business plan along with cash-flow projections or project budget.
- Copies of permits or licences required for the business activities of the applicant
- In case of a security in the form of real estate, appraisal reports prepared by a real estate company. If a surety is a legal person, the legal documentation, financial statements for the last periods; if a surety is a private person, an application by the surety and data sheet on the bank’s form.
The applicant must submit additional documents with regard to the guaranteed obligation.