With the help of a bank guarantee, a company can manage different risks of local and international business activities. The guarantee helps to reduce the financial needs of long-term or large volume projects and get more beneficial payment conditions from the partner. The person who orders the guarantee, submits the bank an application to issue a guarantee for the fulfilment of the obligation provided in the contract. The bank makes a credit decision about the applicant and is obliged to pay financial compensation to the receiver of the guarantee.
Conditions of the guarantee
- Guarantee amount starting from 3 500 euros
- Maturity up to 24 months
- Fee for issuing the guarantee 63,91 euros
- Provision of the guarantee according to the risk level of the applicant
BIGBANK issues the following guarantees
- Payment guarantee
- Prepayment guarantee
- Performance guarantee
- Tender guarantee
- Warranty guarantee
Collaterals
- As principal collateral we accept a mortgage on an immovable and/or surety of a private person
- As additional collateral we accept a commercial pledge on the assets of the company and/or a suretyship/guarantee of a company and/or a registered security over a vehicle and/or KredEx suretyship and/or collateral from the Rural Development Foundation.
Applying for a loan
- In order to apply, fill in the guarantee application, submit necessary documents and our Business Client Administrator will contact you soon
Necessary documents
- Loan application or guarantee application
- The annual report of the last financial year
- Balance and income statement of the current financial year, which are not older than three months
- Conditions of the offer or a copy of the contract, which is the basis for the guarantee, and recommendable a project of the letter of guarantee
- Additional documents should be sent to address arilaen@bigbank.ee
