Procedure for Bank Guarantee Procedure is very simple and is not governed by any particular legal regulations. Bank guarantees may be used for securing performance of obligations under contracts announced by the state, municipal and other institutions (bid (tender) guarantee (bond), performance guarantee, advance payment guarantee, maintenance (warranty) guarantee, etc.), under import/export operations (payment guarantee, performance guarantee, advance payment guarantee, customs guarantee, etc.) as well as for any other obligations acceptable to the Bank. Expand the customers’ field of commercial activities: to participate in public tenders, to receive orders for delivery of goods or services, to obtain services provided by business partners, to handle customs clearance procedures, etc.
March 5th, 2010 by vijay