Guarantees
Security instruments mitigate risks in debtor-creditor relations.Guarantees are the most frequently used security instrument issued by the bank upon request by a customer (Principal).
By issuing a guarantee the Bank undertakes to settle the possible outstanding overdue payables of its customer (Principal) to the third party (Guarantee Beneficiary) provided all terms and conditions set in the guarantee are met.In addition to regular local and international business guarantees, Raiffeisen bank issues special guarantees tailored to fit your needs.
Main types of guarantees are:
- performance guarantees
- bid bonds
- payment guarantees
- guarantees for the quality of the works performed
- guarantees for the return of advance payments
- customs guarantees