Bank guarantee - a document according to which the bank undertakes to pay a limited amount of money to the named party on the conditions specified in it. Bank guarantee - an unseparable obligation of the bank to carry out execution in cash in the event that a third party does not carry out a certain execution.
This type of banking services guarantees the fulfillment of obligations by the client to counterparties and other banks.
When issuing a guarantee, an agreement is concluded with the client, which stipulates the procedure for issuing a bank guarantee, its conditions, payment terms and mutual responsibility of the parties. In some cases, this agreement requires collateral similar to a loan agreement.
To obtain a bank guarantee, the client provides the bank with a package of documents according to the established list for obtaining a loan.
The issuance of guarantees and sureties is formalized by the relevant agreements concluded with customers, which must provide for the basic conditions for the issuance of guarantees (sureties), including the amount of remuneration.
A bank guarantee (surety) is issued for a period not exceeding one year, except for cases when the issuance of guarantees is associated with investment projects under intergovernmental and international agreements.
|
Beneficiary |
supplier of goods / services, customer under contract agreements |
|
Amount |
In accordance with the signed contract (up to 10% of the contract amount) |
|
Currency |
Uzbek sum, US dollar, EUR |
|
Warranty Period |
In accordance with the terms of the concluded contracts |
|
Commission fee |
1-5% of the guarantee amount for each quarter |
|
Commission payment deadline |
during each quarter |
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Provision |
|
|
Beneficiary |
supplier of goods / services, customer under contract agreements |
|
Amount |
In accordance with the concluded agreement (for guarantees up to 5% of the contract amount, for surety up to 20% of the contract amount) |
|
Currency |
Uzbek sum, US dollar, EUR |
|
Warranty Period |
In accordance with the terms of the concluded contracts |
|
Commission fee |
1-3% of the guarantee amount for the quarter, 0.1-0.3% of the guarantee amount for the quarter |
|
Commission payment deadline |
before warranty issue |
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Provision |
|
|
Beneficiary |
supplier of goods / services, customer under contract agreements |
|
Amount |
In accordance with the concluded contract (usually up to 15% of the contract amount) |
|
Валюта |
Uzbek sum, US dollar, EUR |
|
Warranty Period |
In accordance with the terms of the concluded contracts |
|
Commission fee |
1-5% of the guarantee amount |
|
Commission payment deadline |
by one-time payment before the guarantee is issued |
|
Provision |
|
|
Beneficiary |
supplier of goods / services, customer under contract agreements |
|
Amount |
In accordance with the concluded contract (usually up to 15% of the contract amount) |
|
Валюта |
Uzbek sum, US dollar, EUR |
|
Warranty Period |
In accordance with the terms of the concluded contracts |
|
Commission fee |
From 1% to 5% of the amount of the letter of guarantee, every 3 months |
|
Commission payment deadline |
Every 3 months during the warranty period |
|
Provision |
|
To receive the guarantee, the principal must meet the following requirements:
- the activity should be without loss, the balance should be liquid;
- no overdue payables;
- positive audit report for the last three financial years;
- have a positive credit history.
- guarantee application;
- business plan;
- report on financial results (except for individual entrepreneurs);
- documents related to collateral;
- the bank may request other documents if necessary.
