Bank Guarantees

The Bank guarantee is one of the ways to execute money liabilities which represents liabilities of the Bank (Guarantor) on payment of the certain amount to the Creditor of the Principal (Beneficiary) given out under the request of the Client (Principal). Under the basic obligation the Creditor acts as a Beneficiary. Issuing the Guarantee the Bank takes up risk of payment under it with the subsequent compensation of these charges due to the Principal. The Principal pays to the Bank remuneration for issuing the Bank Guarantee which size depends on:

  1. a kind of a Guarantee
  2. the guarantee period
  3. the provided backing.

Sinergia Bank, JSC issues the following guarantees:

Bid Guarantee represents the liability of the Bank given out under the order of the Party participated the tender in favor of the Organizer of this tender, to pay to the last side the certain amount at infringement by the Participant of the tender of terms of the Contract regarding refusal of its realization after it wins the tender. The Guarantee period is estimated before signing the Contract, or till the moment of execution of its obligations by the Guarantor in case of non-concluding the Contract by the Principal.

Payment Guarantee represents the liability of the Bank given out under the order of the Buyer in favor of the Seller, to pay to the last side the certain amount in case of non-execution by the Buyer of the obligations on payment under the Contract.

Advanced Payment Guarantee represents the liability of the Bank given out by the Guarantor (Bank) to the Beneficiary (Buyer or Customer) under the request of the Principal (the Seller who has received an advanced payment from the Buyer) to return the advanced payment to the Beneficiary in case of non-execution by the Seller of its obligations on delivery.

Guarantee of Execution represents the liability of the Bank given out under the order of the Seller of the goods or services or of other Contractor in favor of the Beneficiary (Buyer or Customer) to pay to the last side the certain amount in case of non-execution of the obligations under the Contract by the first side. The Guarantee should provide performance of delivery in due time and in exact conformity with the Contract, and also protection of requirements of the Importer to the Exporter if the Exporter will not execute fully or partially the coordinated deliveries or will not render services according to the Contract. However, the Bank should not take care of appropriate realization of delivery or rendering of service.

At delivery of a Bank Guarantee it is concluded a Contract about granting a Bank Guarantee defining the order of issuing a Bank Guarantee, its conditions, payment terms and mutual responsibilities of the Parties. Validity of a Guarantee depends on terms of execution of obligations under the Agreement (Contract) on which it is based.

Type of Guarantee Guaranties under the deposit of the Bills of the Sinergia Bank Guaranties on security of real estate Guaranties under other backing
Backing Bills of the Sinergia Bank, JSC Uninhabited real estate in Saratov Other backings, incl. Bills, equipment, auto transport, etc.
Requirements to the Principal Opening a settlement account and availability of turn-overs is not an indispensable condition The operating settlement account in the Sinergia Bank is required The operating settlement account in the Sinergia Bank is required
Conditions The amount of the bill is not less the amount of the guaranty, the term of the bill is not less the validity of the guarantee The cost of the mortgaged property should not exceed 50 % from the amount of the guaranty The cost of the mortgaged property should not exceed 50 % from the amount of the guaranty
Guarantee Period Not more a validity of the Bill Не более срока действия векселя Individually Individually

Detailed information on us and our services on issuing Bank Guarantees can be received in the Crediting Department by phone 223-107.