Before signing a contract, business partners analyze the financial side of the transaction, its prospects, what is the planned profit, what risks does the conclusion of this agreement entail. To reduce the degree of risk of transactions, there is a financial instrument called "bank guarantee". Its task is to compensate for possible costs or financial losses of one of the parties to the transaction (the beneficiary) if any arise due to the fault of the other participant (principal). The scheme of bank guarantees is quite simple and effective. It seriously reduces financial risks when concluding agreements and increases the degree of trust of the parties to each other.
The main consumers of this banking product are large companies participating in auctions or working under a government contract. However, an increasing interest in this type of provision of agreements is shown by and, as well as organizations that are just starting to develop.
With any type of security, the bank guarantee scheme is very similar, because it has only one goal - to ensure the security of the agreements reached.
Before applying for collateral, it is necessary to carefully analyze all offers on the market. It is advisable to choose a specialized bank, since it is likely that the algorithms for issuing guarantees when concluding transactions in a certain sector of the economy have already been worked out to the smallest detail.
If it is not possible to find a specialized institution, then you just need to contact a serious bank with a clean reputation. After credit organisation is selected, it is necessary to submit an application for the issuance of security in writing, where you should explain in detail your wishes regarding the future transaction, as well as the amount of remuneration that the principal is ready to pay for securing obligations.
After agreeing with the bank on all the conditions, the creditor and the principal conclude an agreement, the terms of which are already known and agreed with the bank. This stage is the most important, since all further relations between the parties will be governed by this document. The Bank at the same time gives its consent to ensure the fulfillment of the terms of the concluded contract and becomes a guarantor of its fulfillment.
When the contract is concluded and all the nuances are agreed upon, the bank in writing gives an obligation to pay the money to the creditor if the principal cannot do it himself. In this case, all conditions of the contract must be strictly observed. The guarantor will follow this condition very closely, which is why it is so important to draw up a contract correctly when concluding a deal. bank guarantee as a document, should without fail contain the following information (but not limited to):
After the bank guarantee is issued, the scheme of actions is extremely simple. All parties to the agreement begin directly to fulfill their obligations specified in the contract. When the creditor fulfills all his obligations, he applies to the bank to receive payment under the contract and receives it, regardless of the willingness or desire of the principal to pay for goods delivered under the contract or services already performed.
Using a bank guarantee as an additional financial instrument in business allows you to significantly reduce risks and focus on fulfilling the terms of the deal.
Among banking products, there is one that many customers have not heard of - and even those to whom it could be useful. At the same time, this is a very reliable tool with which you can open new horizons for business, strengthen relationships with counterparties, and move to a new level.
We are talking about a bank guarantee - that is, the provision of a client's obligations by a credit institution. Today we will tell you in detail about the parties to a bank guarantee transaction, the process of concluding an agreement, options for interaction between business partners, and much more.
A bank guarantee is a very interesting and in some ways even a unique look. financial services which is worth discussing in detail. It is often confused with loans or insurance., however, despite the existing common features, a bank guarantee differs significantly from these services.
In essence, a bank guarantee is an obligation provided by a bank and documented to pay a certain amount of funds for a client in case of violation of the terms of a transaction with a third party. Thus, for the conclusion of such an agreement, the following conditions are necessary:
The essence of any contract is the provision of services or goods for a fee. The bank guarantee thus protects the interests of the customer - if the goods are not provided, if the deadline is violated, the quality is unsatisfactory, the bank will pay him a predetermined amount, which will be enough to cover the damage.
It is important to note that the parties under the bank guarantee agreement have well-defined names. They should know:
Note that when concluding a bank guarantee agreement, the participation of the beneficiary consists only in the requirement to provide additional security. By itself, the customer does not contact the bank and does not even partially pay the cost of the guarantee. But in the event that the beneficiary also violated the terms of the agreement (for example, did not make an advance payment on time), the payment of funds under the guarantee remains at the discretion of the bank.
As we can see, a guarantee from a bank really differs significantly from other services:
Although the existence of a bank guarantee is stipulated in several legislative acts at once, there are essentially no specific requirements for its form and content. As a result, each bank has its own form of guarantee agreement, which may differ significantly from each other. However, they all include the following fundamental points:
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Bank guarantee - quite complicated, but useful banking product. Let's talk about the situations in which it can be useful.
Traditionally, banks and financial groups are considered to be among the most reliable and reputable institutions. Obtaining a bank guarantee allows the principal to look more reliable than competitors in the eyes of the customer. Of course, in most cases, such a contractor will be given preference - after all, the interests of the beneficiary will be protected in any outcome of the transaction, so that the risks are minimized. In this case, all financial costs for the acquisition of a guarantee are borne by the contract executor.
In addition, the very fact that the bank is ready to provide a company with its guarantees already speaks in its favor. The fact is that the consideration of a guarantee in terms of complexity and depth of approach is no different from the approval of an application for a business loan - which means that the bank will comprehensively study the following aspects:
Thus, from the point of view of the beneficiary, the benefit of a bank guarantee is obvious: with the help of a bank guarantee, with the help of a bank guarantee, he acquires a reliable counterparty in the person of the principal, and he is sure that all documents and financial records of the counterparty meet the requirements.
Benefit to the principal in the following:
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Obviously, the principal, like the beneficiary, has quite weighty arguments in favor of bank guarantees. As for the bank, it also has its benefits:
Thus, a bank guarantee is useful for all three parties to the contract, and its cost is quite acceptable for the principal (2-10% of the amount of compensation). Now let's talk about existing types guarantees.
Depending on what kind of obligations the client provides with a bank guarantee, there are a number of varieties of this banking product:
A bank guarantee is one of the most effective tools to ensure the security of a transaction.
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By its very nature, it is loan product, but many times cheaper than a cash loan. For the provision of these services, the bank takes its interest - a commission.
A bank guarantee is a written obligation of the bank to pay a certain amount of money to the customer in case the contractor fails to fulfill the terms of the contract.
This tool ensures the proper performance of contractual obligations. For some transactions, this way of reducing risks is the main condition for cooperation.
There are three actors involved in this process:
The main classification of bank guarantees is based on the type of secured transaction.
Allocate guarantees:
There are other types, depending on the purpose of the main transaction. They also share bank guarantees on other grounds - revocable and irrevocable.
To clarify what a bank guarantee is plain language, it is convenient to use an example.
The scheme of work is:
There is another way to secure the transaction - a pledge in cash, however, for this, the contractor must withdraw the required amount of money from circulation. This is unprofitable, especially since it is often necessary to attract borrowed funds, which is 8-10 times more expensive.
The entire registration procedure is described in seven stages:
You can search for a suitable bank on your own or through a broker. You can also contact any branch of Sberbank, which works exclusively directly without intermediaries.
By issuing a guarantee obligation, the bank risks its own funds, which must be paid upon the occurrence of the guarantee obligation. l teaching. Further data cash the client is obliged to return, so the bank must make sure that the client is solvent.
The required package of documents depends on the particular bank, but its main components are:
Also, the bank may require copies of documentation for successfully completed such contracts and similar confirmation of the company's reliability.
Before the bank agrees to issue a guarantee, the client will be checked for financial stability.
The principal must meet the following requirements:
Often you need to have a current account in the same bank.
The law of the Russian Federation does not dictate strict requirements for the preparation and appearance bank guarantee agreement. However, normative base dictates the main provisions that must be in this contract.
Main legislative documents:
Samples of basic documents:
All guarantees issued on the basis of Law 44-FZ are mandatory entered into the Register. To check, you need to visit the portal of the United information system in the area of procurement. According to Art. 45, paragraph 11 of the Federal Law No. 44-FZ, information must be entered into the system within one day from the date of registration of the warranty obligation.
Other guarantees issued on the basis of 223-FZ are not entered in the register; they can be checked on the Central Bank website in the section of the directory of credit organizations. Here you need to find a bank, turnover sheet and column No. 91 315 - turnovers on warranty obligations.
In column No. 91 325 you will see a figure that should be compared with the amount of the warranty obligation:
However, for small amounts, data is allowed to be entered at the end of the quarter.
The Ministry of Finance provides monthly a list of banks that are allowed to issue bank guarantees. Therefore, to find information about the list of such financial institutions available on the website of the Ministry of Finance.
In order for the beneficiary to be able to receive the amount of compensation under the guarantee, justifications are required.
These grounds can be:
List required documents should be included in the warranty agreement.
When concluding large transactions and participating in purchases, the entrepreneur is often required to provide security to confirm reliability. To do this, you can provide a pledge of your property or a guarantee from another company. However, the simplest and profitable way there will be a bank guarantee.
You will learn about how a bank guarantee works, for what transactions it is required, and how you can get it, in this article. Here you can also find examples of guarantee offers from major Russian banks.
A bank guarantee serves to ensure the execution of various agreements or contracts. This is a written obligation, according to which the bank must pay a certain amount to the counterparty of its client if this client fails to fulfill the terms of the contract or transaction. In other words, when issuing a guarantee, the bank acts as a guarantor for its client. At the same time, the client himself is not responsible to the counterparty with either property or money.
There are three parties involved in a collateral transaction: the guarantor, the principal and the beneficiary. The guarantor is the bank that provided the security. The principal is a bank client who has entered into an agreement on obtaining a guarantee. The beneficiary is the customer or creditor of the underlying obligation in whose favor the guarantee is provided.
The definition of a guarantee is given by the Civil Code, it also defines the basic rules for their provision and use.
According to the Civil Code, not only banks, but also insurance companies. However, the Federal Law "On Banks and Banking Activities" classifies guarantees as banking operations, which require the status of a bank and a license of the Central Bank. Therefore, approach guarantees from insurance companies with caution - they may be considered illegal.
Bank guarantees are available to legal entities, less often - individual entrepreneurs. For its provision, the bank charges a commission - a percentage of the amount of collateral. Sometimes only a reliable client of the bank who has been working with him for a long time and maintains a good business reputation can get a guarantee. A pledge or guarantee from other organizations may also be required.
Most often, guarantees are required when concluding transactions with medium and large businesses. In many situations, the presence of a guarantee is a prerequisite for the conclusion of important contracts. Then the company will be able to understand that its likely counterparty can be trusted.
A guarantee is almost always required to participate in tenders and purchases, including government ones - it confirms the reliability and solvency of the participant without additional prepayments. It will also be required by the winner of the auction or tender to ensure the performance of the contract. The use of own or credit funds in this case may be unprofitable.
Bank guarantees are often used in foreign economic activity. For foreign companies, it is especially important to ensure the reliability of their partner. Also, a guarantee may be required to secure obligations to the customs authorities.
The type of guarantee depends on the area where it can be applied, the amount of compensation and the cost. There are several main types of guarantees:
Warranty is a must federal law No. 44-FZ "On the contract system in the field of procurement for state and municipal needs" to participate in public procurement.
To receive a guarantee, the client must meet the requirements of the bank. These requirements, most often, are imposed on the size of turnover, the duration of the activity, financial stability and other indicators. The company must not have debts for taxes, fees, payments and loans. It is also desirable that she not participate in court proceedings.
Before contacting the bank, you will need to prepare a package of documents. It most often includes:
The bank may also require other documents to confirm the reliability of the company - for example, information about participation in other competitions or tenders.
The finished package of documents must be sent to the bank. For some time, the organization will study the potential principal and the terms of the transaction or competition. This usually takes up to three to four weeks.
If the decision to grant a guarantee is positive, you will be asked to sign a contract. The bank, in turn, enters information about the guarantee in the general register. The guarantee fee is paid in a lump sum or in installments over the term.
You can issue a guarantee directly at the bank or through an intermediary broker. These organizations offer assistance in obtaining a guarantee - they help you choose the right bank, prepare the necessary package of documents and submit an application. Brokers provide their services for a fee, while the terms of guarantees remain the same.
The guarantee comes into effect in the process of concluding the contract for which it is designed. If the principal fulfills the conditions of the beneficiary, then there is no need to pay it, and the principal will only have to pay the bank a commission for the service. The warranty will then expire.
If the principal fails to fulfill obligations under the contract for any reason, the beneficiary applies in writing to the guarantor bank. After that, he receives monetary compensation from the guarantor. The guarantor, in turn, requires the principal to reimburse the amount of the guarantee - most often, at the expense of collateral. The client of the bank is still obliged to fulfill the terms of the contract. He must also pay interest on the withdrawal of money at a predetermined rate.
At the same time, the bank does not have the right to interfere in the process of execution of the contract and the relationship between counterparties.
Bank guarantees are usually irrevocable - they are valid for the entire period, even if they were not used during it. The guarantee can only be canceled at the written request of the beneficiary. Also, a guarantee can be applied only in the situation for which it is issued: a tender guarantee - only in tenders, a contract guarantee - only when a contract is concluded.
Many Russian corporate banks offer their customers various types of guarantees. They differ from each other in terms of provision, requirements for principals and speed of registration. Consider examples of offers from popular banks for business:
The point provides guarantee services from two partners - Otkritie Bank and Teledoc. They are provided only for participation in procurement under 44-FZ and 223-FZ. For registration, you only need accounting reports, constituent documents and tender data - they can be provided online using the Points service.
Like others Tinkoff products, guarantees are issued without visiting the bank. The entire registration process is accompanied by a personal manager. For Tinkoff clients, expedited processing with a reduced package of documents is available.
Sberbank offers guarantees with convenient conditions and expedited processing for small businesses. These customers do not need to have a bank account. Larger companies are subject to fairly strict requirements.
Alfa-Bank offers guarantees only to medium and large businesses. They are provided not only in rubles, but also in foreign currency. For each client conditions are calculated individually.
Modulbank offers guarantees with very simple terms and available requirements. This service is best for small businesses. Guarantees from Modulbank are quickly issued without visiting the bank.
Bank guarantee - convenient way secure a deal that benefits all parties. The principal will be able to confirm his reliability in the transaction. The beneficiary will be able to receive a payment if something goes wrong in the execution process. The guarantor, on the other hand, almost does not risk his money - if the conditions are violated, he will receive a refund from the principal.
When applying for a guarantee, try to choose a reliable and trusted bank. Such an organization successfully serves a large number of clients and enjoys prestige in Russia and, sometimes, abroad. At the same time, remember that such banks may have stricter requirements for customers.
A bank guarantee is a reliable way to ensure your obligations when concluding a deal, participating in a tender or paying customs duties. There are a few things to keep in mind when applying for it:
Did you find answers to all your questions in this article?
A bank guarantee is another method of securing loans. In essence, it is a guarantee for the borrower. But the credit institution is responsible for it. The bank acts in the transaction as a person who gives a guarantee to the creditor (beneficiary). In case of default by the borrower (principal), the guarantor pays his debt.
Along with banks, the guarantor can also be Insurance companies. The possibility of issuing such guarantees should be specified in the license for the provision of services.
A bank guarantee can be issued as legal entity, and an individual (only if it is Consider the option with an individual.
Under what conditions can I count on a bank guarantee?
1. If you have an account with this bank and it is actively working.
2. If you have repeatedly taken loans from this bank, and you have a good credit history.
The guarantor issues to the principal And he does it far from free. The letter indicates the amount of money and the conditions under which it can be "activated".
Providing a bank guarantee is possible when collecting a package of documents according to the following list:
copy of the passport;
certificate of the amount of income received (for six months);
a copy of the work book;
For property owned (real estate, car, securities, etc.). If the bank guarantee is unsecured, then such documents do not need to be provided.
The list can be supplemented depending on the requirements of a particular bank.
If a moment arises when the borrower does not pay the loan to the lender, the latter makes a claim against the guarantor bank. The bank pays its guarantee - and the borrower's debt is now transferred to the guarantor bank.
A bank guarantee is not tied to a specific loan or obligation. If one bank did not give you a loan, then you can use this guarantee in another bank. Even if you have already repaid the loan, and the period specified in the guarantee has not yet passed, it is still valid and you can take out a loan against it again.
The bank can return its guarantee (this condition must be initially spelled out). But he has the right to do this only before the creditor has made a claim against him.
Depending on the payment options for a letter of guarantee, the following types of it can be distinguished:
Unconditional guarantee - payment of the guarantee occurs at the first request of the beneficiary.
Conditional guarantee - payment of a guarantee also at the request of the bank, but subject to the provision of documents confirming the need for this payment.
A secured guarantee is issued to the principal in exchange for a pledge of property.
A syndicated guarantee is when several banks act as a guarantor for a loan.
In addition to securing a loan, a bank guarantee can be issued for:
Participation in bidding, auctions. It is a guarantor of the serious intentions of the participant and the obligatory payment of the terms of the contract in case of victory in the competition.
Contract payments. Acts as a guarantee of payment to the supplier of goods or services of the amount specified in the contract.
These are just the most common types of guarantees.
In Russia, this type of security is just beginning to gain its popularity. Therefore, when referring to this species security, attention should be paid to the correct legal registration deals.
