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Bank guarantees

The Bank guarantee is intended for:

  • corporate entities which do business in the Slovak Republic
  • municipalities and regions etc.

Characteristics of the Bank guarantee:

  • one of the most frequently used security instruments
  • reduces commercial risk
  • created by written declaration by the bank in a letter of guarantee
  • guarantees satisfaction of the creditor (beneficiary) up to a certain financial amount if a third party (debtor) fails to meet a certain obligation or if other conditions as stipulated in the letter of guarantee are not met
  • KB provides the following types of Bank guarantees
    • payment guarantees
      • for payment of a tax document (invoice)
      • for repayment of a financial loan
      • for payment of leasing instalments
      • other
  • non-payment guarantees
    • for a submitted offer (tender bond, bid bond)
    • for return of an advance payment (advance payment guarantee, down payment guarantee)
    • for due performance of a contract (performance bond)
    • for return of a retention money (retention bond)
    • for a warranty period (warranty bond)
  • customs guarantees
    • for other operations than transit regime (global, individual)
  • other guarantees
    • for payment of rent
    • other
  • counter guarantees
    • for transactions in specific territories (e.g. Arab countries)
    • issued in favour of the local bank of the final beneficiary
  • In relation to Bank guarantees, Komerční banka, a.s., pobočka zahraničnej banky provides the following services
    • consultancy during contractual negotiations
    • discussion of conditions for provision of a Bank guarantee
    • formulation of the wording of the letter of guarantee
    • notification of the Bank guarantee
    • provision of a promise of a Bank guarantee

Advantages of the Bank guarantee:

  • for the beneficiary
    • certainty of gaining funds if the business partner (party ordering the Bank guarantee) fails to meet his obligations
    • quality security for commercial relations
  • for the party ordering the Bank guarantee
    • cost savings (only the risk margin is paid, not the price of funds)
    • positive effect on the company’s cash flow

A Bank guarantee allows you to:

  • gain funds immediately
  • gain deferral of payment of an obligation
  • conclude a contract subject to more advantageous conditions

How to establish/arrange the product :

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