Bank guarantees

Guarantees

Guarantee of payment – ensures the fulfillment of payment obligations of buyers to sellers under the contract.

Guarantee of fulfillment – ensures the fulfillment of contractual obligations of sellers to buyers for the supply of goods/provision of services/performance of works.

Advance payment guarantee – ensures the fulfillment of sellers’ obligations to buyers to return the advance payment in case of non-fulfillment of their obligations under the contract (agreement).

Basic terms of provision of guarantees

CURRENCY OF THE GUARANTEE

UAH, USD, Euro

AMOUNT OF GUARANTEE

In accordance with the terms of tender documents or terms of agreement with counterparty

VALIDITY OF GUARANTEE

In accordance with the terms of tender documents or the agreement with counterparty, but not more than 12 months from the date of entering into force or extension of the validity.

COLLATERAL

Cash in the account at Piraeus Bank, property rights to the deposit with Piraeus Bank, other (non-monetary) collateral (movable/immovable property), acceptable to the Bank

PARTNERSHIP WITH EBRD

Opportunity to obtain a bank guarantee provided by a foreign investment grade bank in the framework of participation in the EBRD Trade Facilitation Programme.

Steps to get guarantees

PROVIDE THE NECESSARY DOCUMENTS

to the Bank and sign the Application for Guarantee

CONCLUDE A DEPOSIT AGREEMENT

or sign an Additional Agreement to the current deposit agreement, or conclude a Guarantee Agreement, or deposit funds to the coverage account (depending on the selected collateral under the guarantee)

SIGN A BANK GUARANTEE AGREEMENT

PAY

guarantee fee

GET A GUARANTEE

Benefits

RELIABILITY

Offset of risks of non-fulfillment of financial/contractual obligations

CONVENIENCE

Does not require withdrawal of funds, as it is a non-resource financing instrument

Contact details

Bank’s Head Office Trade Finance Department:

Email: tradefinance@piraeusbank.ua

Telephone: +38(044)593-75-10

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Bank guarantees

Basic terms of provision of guarantees

Steps to get guarantees

Benefits

RELIABILITY

CONVENIENCE

Contact details

Contact us

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