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.
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Beneficiary |
Supplier of goods / services, customer under contract |
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Amount |
In accordance with the concluded contracts (usually up to 10% of the contract amount) |
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Currency |
Uzbek som, US dollar, Euro |
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The warranty period |
In accordance with the terms of the Agreement. |
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Mediation fee |
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Mediation payment period |
Every 3 months during the warranty period |
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Security |
- Vehicles; - Real estate; - Equipments. |
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Customer |
Corporate client of the bank |
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Purpose of warranty |
Fulfillment of obligations under guarantee contracts, participation in tenders, delay or extension of customs payments, customs clearance of imported goods, refund of advance payments, etc. |
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Currency |
Based on customer request |
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Amount |
Based on the client's request (within the established limit) |
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Warranty limit |
25.0 billion to soums (or equivalent in foreign currency) |
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Warranty limit validity period |
12 months |
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Warranty period |
Based on customer request (recurring) |
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Guarantee commission |
One-time amount of 1% for participation in the tender; In other cases, the guarantee is in the amount of 0.5% for every three months |
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Commission payment |
Each guarantee received within the general limit is paid separately before the bank commits |
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Supply |
Types of security specified in the Bank's Credit Policy and Credit Regulations |
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Warranty release form |
"Ipoteka-bank" is provided by ATIB branches through a bank guarantee form in a single form |
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Procedure for issuing documents |
It is carried out based on the current Credit Policy of the Bank, Lending Regulation and Regulation No. 2364. Also, if the conditions for providing the guarantee provided for in this document differ from the current regulatory documents of the bank, this document shall prevail and shall be followed. Branches do not accept insurance policies of insurance companies that have not fulfilled their insurance obligations to the bank |
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Requirements to customers (principal). |
- Not working at a loss and not having an illiquid balance; - Absence of overdue creditor debts; - During the last 12 months, the average monthly cash flow turnover from the activity is at least 10.0 bln. to be soum; - Having a positive credit history; - Having a positive audit opinion on the results of the financial year; - The main account should not be less than 6 months in the Mortgage Bank; - If the guarantee is given in foreign currency, it should have currency income |
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.
