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. A bank guarantee is a non-separable obligation of a bank to make a performance in the form of money in the event that a third party fails to perform a certain performance.
This type of banking services guarantees the fulfillment of obligations by the client to counterparties and other banks.
When issuing a guarantee, a contract is concluded with the client, which stipulates the procedure for issuing a bank guarantee, its terms, terms of payment and mutual responsibility of the parties. In some cases, this agreement requires collateral similar to the loan agreement.
To obtain a bank guarantee, the client submits to the bank a package of documents in accordance with the established list for a loan.
The issuance of guarantees and sureties is executed by the relevant agreements concluded with customers, in which the basic conditions for issuing guarantees (surety) must be provided, including the amount of remuneration.
A bank guarantee (guarantee) is issued for a period of not more than one year, except when the issuance of guarantees is related to investment projects under intergovernmental and international agreements.
|
Beneficiary |
Supplier of goods / services, customer under contract |
|
Amount |
In accordance with the concluded contracts (usually up to 10% of the contract amount) |
|
Currency |
Uzbek som, US dollar, Euro |
|
The warranty period |
In accordance with the terms of the Agreement. |
|
Mediation fee |
|
|
Mediation payment period |
Every 3 months during the warranty period |
|
Security |
- Vehicles; - Real estate; - Equipments. |
|
Beneficiary |
Supplier of goods / services, customer under contract |
|
Amount |
In accordance with the concluded contracts (up to 5% of the contract amount in the tender guarantee, up to 20% of the contract amount in the tender guarantor) |
|
Currency |
Uzbek som, US dollar, Euro |
|
Warranty period |
In accordance with the terms of the Agreement. |
|
Mediation fee |
|
|
Mediation payment period |
Until warranties are issued |
|
Security |
- Vehicles; - Real estate; - Equipments. |
|
Beneficiary |
Supplier of goods / services, customer under contract |
|
Amount |
In accordance with the concluded contracts (usually up to 15% of the contract amount) |
|
Currency |
Uzbek som, US dollar, Euro |
|
The warranty period |
In accordance with the terms of the Agreement. |
|
Mediation fee |
|
|
Mediation payment period |
Until warranties are issued |
|
Security |
- Vehicles; - Goods in circulation; - Real estate; - Equipments. |
|
Beneficiary |
Supplier of goods / services, customer under contract |
|
Amount |
In accordance with the concluded contracts (usually up to 15% of the contract amount) |
|
Currency |
Uzbek som, US dollar, Euro |
|
The warranty period |
In accordance with the terms of the Agreement. |
|
Mediation fee |
|
|
Mediation payment period |
Every 3 months during the warranty period |
|
Security |
- Vehicles; - Real estate; - Equipments. |
To obtain a guarantee, the principal must meet the following requirements:
● Not working at a loss and not having an illiquid balance;
● Absence of overdue accounts payable;
● Have a positive audit report on the results of the last 3 financial years;
● Have a positive credit history.
Documents required to receive a letter of guarantee:
● Application for a guarantee;
● Business plan;
● Financial statements (excluding NGOs);
● Security documents;
● If necessary, the bank may require other documents.
