Guarantee

Benefit from the bank guarantees to implement your business plans in various areas - participate in tenders, certify your ability to provide services or pay for the goods as well as make international trade transactions with confidence!

Why choose Luminor guarantee?

  • Simple and fast guarantee issuance if secured by money on account or de-posit
  • Guarantees are governed by international rules and therefore widely used for business transactions all over the world
  • Guarantees in accordance with company needs and stage of the cooperation project - tender, advance payment, performance, warranty guarantee, customs debt or other tax payment guarantees

How to obtain a guarantee?

1

Agree with the partner on the guarantee

Enter into an agreement or prepare the tender regulations providing the guarantee submission

2

Submit the application

Fill out a guarantee application (depending on the type of collateral) and submit together with the required documents.

3

Execute the security or line

Secure the money deposit or enter into a credit line agreement to be used for guarantees and security agreements.

4

Obtain the guarantee

Obtain the guarantee, submit it to your partner, or we will send it to your partner bank following your instructions.

Required documents

  • Application for Issue of  Guarantee
  • Passport or eID card of the company’s representative
  • Information on the transaction, agreement or tender

    Unless the security is money deposited on the account or deposit, the following documents should be submitted in addition:
  • Financial reports for the last two years  and operational results (including specification of debtor and creditor accounts)
  • Valuation of the collateral

Bank guarantee secures performance of contract obligations both locally and globally!

See also: Letter of CreditDocumentary collectionCredit line

NB!
Guarantee is governed by the “Uniform Rules for Demand Guarantees” (publication No. 758 of the International Chamber of Commerce, 2010 revision), unless otherwise stipulated in the guarantee.