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Non-payment bank guarantees

Non-payment bank guarantees

By non-payment bank guarantees EXIMBANKA SR guarantees the commitment to meet the qualitative or quantitative conditions of contracts by exporter to buyer. The Slovak exporter commits that the conditions of the contract will be fulfilled or the downpayment will be returned if the conditions of the export contract are not met within the agreed time period.

Client the requester on issuing of a bank guarantee (a business with a registered seat and place of doing business in Slovakia, which manufactures or exports goods intended for export or provides a service intended for export, or invests abroad)
Beneficiary  the recipient of the bank guarantee - the foreign buyer, i.e. a business with a registered seat and place of doing business outside of the Slovak Republic, or the bank issuing the non-payment guarantee (in the case of issuing a counter-guarantee)

Other non-payment bank guarantees
Bid bond A guarantee for an offer which the underwriter of an international tender requests.
Performance bond Secures the maintaining of qualitative and quantitative conditions, agreed in an export contract.
Advance payment guarantee  Secures to a foreign buyer the refunding of any payments made to the exporter in advance.
Retention bond Secures to a foreign buyer the refunding of a holding.
Warranty bond A guarantee issued for the purpose of ensuring the removal of possible errors and insufficiencies of the exporter.

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