Guarantees | Luminor

Guarantees

Need to certify that you will fulfill your obligations in a procurement tender or assure another party in a transaction?

Use a bank guarantee. We will pay the guarantee amount should you fail to comply with your obligations.

Why should you choose a bank guarantee?

You will reduce the transaction risk and be trusted more by the other party.
Bank guarantee is attractive because it is irrevocable and paid on demand.
We will also offer a guarantee as an alternative to advance payment.
Guarantees may be subject to international rules.

Types of Guarantees

Tender

Guarantees a monetary compensation to a buyer of goods or services, in the event that the seller fails to comply with their contractual obligations.

Performance

Guarantees a monetary compensation to a buyer of goods or services, in the event that the seller fails to comply with their contractual obligations.

Payment

Guarantees a payment to a seller of goods or services, in the event that the buyer fails to pay for the goods or services.

Repayment of advance payment

Guarantees to a buyer a repayment of carried out advance payments, in the event that the seller fails to meet their obligations.

Assurance of guarantee obligations

Guarantees a monetary compensation to a buyer of goods or services, in the event that the seller fails to comply with the guarantee term obligations.

How to apply for a bank guarantee?

Ensure security. Have the amount requested in the guarantee in your account with our bank or submit an application form regarding the limit on guarantees.

Submit a request. Submit an Application for a Guarantee.

Receive the guarantee! We will provide your guarantee in written or electronic form.

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