Pursuant to the Bank guarantee, UkrSibbank undertakes to pay the stated amount in the event that the seller or a purchaser does not perform their obligations under the agreement.
Types of bank guarantees:
- tender guarantees;
- travel guarantees secured by pledge;
- payment guarantees;
- prepayment return guarantees;
- guarantees for meeting obligations;
- non-standard and other types of guarantees.
Execution of bank guarantees has the following specific features:
- bank guarantees provide a payment upon the first request;
- a guarantee is executed both for 100% of the amount of payment and for part of the amount;
- in the event of providing the Bank with a request for payment, a document confirming a failure to perform the agreement should be provided;
- the Bank meets obligations under the documents and does not guarantee work performance instead of the contractor;
- bank guarantee are governed by the law applicable at the place where the Bank that issued the guarantee is located.
For detailed information about UkrSibbank services, please contact the information and reference service at 729 (free for mobile calls) or 0 800 505 800 (free calls within Ukraine).