Guarantees | Luminor

Guarantees

Need to certify that you will fulfill your obligations in a procurement tender or assure another party in a transaction?

Use a bank guarantee. We will pay the guarantee amount should you fail to comply with your obligations.

Why should you choose a bank guarantee?

You will reduce the transaction risk and be trusted more by the other party.
Bank guarantee is attractive because it is irrevocable and paid on demand.
We will also offer a guarantee as an alternative to advance payment.
Guarantees may be subject to international rules.

Types of Guarantees

Tender

Guarantees a monetary compensation to the announcer of a competition if the tenderer does not conclude the contract or changes / withdraws the tender.

Performance

Guarantees a monetary compensation to a buyer of goods or services, in the event that the seller fails to comply with their contractual obligations.

Payment

Guarantees a payment to a seller of goods or services, in the event that the buyer fails to pay for the goods or services.

Advance payment

Guarantees that advance payments will be returned to the buyer if the seller does not fulfill his obligations.

Warranty obligations

Guarantees a monetary compensation to the buyer of goods or services if the seller fails to fulfill the obligations of the warranty period.

How to apply for a bank guarantee?

Ensure security. Have the amount requested in the guarantee in your account with our bank or submit an application form regarding the limit on guarantees.

Submit a request. Submit an Application for a Guarantee.

Receive the guarantee! We will provide your guarantee in written or electronic form.

Useful links