Demand guarantee or guarantee means any signed undertaking, however named or described, providing for payment on presentation of a complying demand.
Guarantee by its nature is a separate transaction from the sale or another contract on which it may be based.
The Uniform Rules for Demand Guarantees, 2010 Revision, ICC Publication No. 758 apply to any demand guarantee or counter-guarantee that expressly indicates that it is subject to these rules.
- High security level
- Allows one to defer payment for goods or services procured on the basis of the security provided by the bank guarantee
- Allows for advance payments to cover the seller's out-of-pocket costs for supplying the service or product
- Less expensive than loans
- Independent nature of guarantee (separate transaction from the sale or another contract on which it may be based)
Forms of Guarantees:
- Covered Guarantee
Guarantee which is secured/covered by the funds lodged by the customer.
- Uncovered Guarantee
Gurantee which is issued within the framework of customer's credit line.
- Confirmed Guarantee (indirect guarantee)
Guarantee issued against counter-guarantee of "Tengri Bank" JSC.
- Sales or another contract (with customs control registration number assigned, if required)
- Application and other documents as required
- Cash cover (for covered guarantees) or credit line arranged for the Applicant (for uncovered guarantees)
- Bank guarantee agreement
For any queries or details please contact our experts:
International Relations Department
Telephone: +7 (727) 244 34 34 (ext.3051)