Guarantee / Surety

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Guarantee / Surety

You need to guarantee a payment, perform a service or deliver goods? The bank guarantee or surety gives you the safety you need for these types of transactions.

1. Advantages

✓ AgeBanque guarantees the proper execution of the service agreed with a third party.

✓ The possibility of benefiting from the bank’s recognized creditworthiness.

✓ The ability to conduct transactions more easily.

✓ Protection of the creditor against a debtor’s insolvency.

1. Bank Guarantee: Cover your Payments or Your Services

A bank guarantee is the irrevocable commitment by a bank, at the first request of the beneficiary, to pay a sum of money in the event that a third party fails to fulfil its obligation to provide a service or pay. The guarantee is the instrument to use, especially in the context of international commercial relations.

2. Surety

A surety is a commitment for a defined amount by which the bank undertakes in favor of the creditor to guarantee payment of the debt contracted by the debtor subject to a number of specific provisions.

3. Conditions

For a guarantee or a surety to be issued, the principal must at least have or create a relationship with the AgeBanque.