Bank guarantee

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Bank guarantee - a document under which the bank agrees to pay the limited amount of money to a named party to the conditions specified therein. The Bank undertakes the obligation to make performance unseparated in cash in the case where a third party fails to make a specific performance. This type of bank services guarantees fulfillment of obligations by the client to the counterparty and other banks.

When issuing the guarantee the contract is concluded with the client, which defines the procedure for issuing a bank guarantee, its terms, payment terms, and mutual responsibilities of the parties. In some cases, the contract requires the provision of similar credit agreement.

For a bank guarantee customer provides the bank the documents according to the set list for a loan.

To date the OJCS "Aloqabank" offers its reliable customers the following guarantees:

Guarantee for contract and agreement obligations

Terms of guarantee:

• Beneficiary - supplier of the goods / services, customer for outsourcing contracts;;
• Amount - in accordance with the contract (typically up to 20% of the contract);
• Currency - Uzbek sum, U.S. Dollar, Euro;
• Period of guarantee - in accordance with the terms of contracts;
• Fee - according to bank rates, but not less than 1% of the amount of the guarantee;
• Payment term - one-time payment before guarantee issue.

Collateral of guarantee:

• vehicles;
• real estate;
• industrial and commercial equipment;
• guarantee of the other customer of bank;
• the insurance policy on insurance risk of default by the principal obligations under the guarantee.

Tender guarantee

• Beneficiary - supplier of the goods / services, customer for outsourcing contracts;;
• Amount - in accordance with the contract (typically up to 15% of the contract);
• Currency - Uzbek sum, U.S. Dollar, Euro;
• Period of guarantee - in accordance with the terms of contracts;
• Fee - according to bank rates, but not less than 1% of the amount of the guarantee;;
• Payment term - one-time payment before guarantee issue .

Collateral of guarantee:

• vehicles;
• real estate;
• industrial and commercial equipment;
• guarantee of the other customer of bank;
• the insurance policy on insurance risk of default by the principal obligations under the guarantee.

Required documents:

• application for a guarantee;
• business plan with cash flow for the duration of your warranty;
• annual and the last period (quarter, month) financial statements with accounting balance (form №1), financial results (form №2), data about accounts payables and accounts receivables with the maturity no less than 90 days (form №2a) approved by the tax authorities and sealed;
• auditor's report on the results of the last three financial years.