Bank Guarantees
Reliable Bank Guarantee Providers Globally
At Express Trade Finance, we are proud to be a leading provider of Bank Guarantees globally. Discover the power of financial security and unparalleled peace of mind with our innovative bank guarantee solutions, designed to elevate your business to new heights of success. Whether you’re a buyer seeking assurance or a seller safeguarding your interests, we’ve got you covered.
A Bank Guarantee is a financial instrument provided by a bank on behalf of a customer, typically a buyer or contractor, to a beneficiary, often a seller or supplier. It serves as a bank’s promise that the customer will fulfill their contractual obligations. Should the customer fail to meet these obligations, the beneficiary can claim compensation from the bank.
Bank Guarantees ensure that your business is protected from potential defaults, providing a safety net in commercial transactions. They play a crucial role in mitigating risks, helping to build trust and confidence between parties involved. Our guarantees can take various forms, tailored to meet specific transaction requirements. With a Bank Guarantee from Express Trade Finance, you can focus on growing your business, knowing that your financial interests are secure.
Experience the assurance and reliability of Express Trade Finance’s Bank Guarantees. Let us help you navigate the complexities of international trade with ease and confidence. Explore our services today and take your business to the next level.
There Are Mainly 4 Types Of Bank Guarantees In International Trade
Bank Guarantees Issuance Procedure- Step By Step
Bank Guarantees Issuance Procedure:
1. In order to finalizing the draft , we need following documents/ information.
i. Filled-in Application form/ Proforma Invoice or Sales Contract
ii. Company Trade License
iii. Passport copy of the owner and shareholders
iv. Last three months bank statement
v. One-year audited financials
vi. Shareholding List
2. After acquiring all the above documents/information, we will assist the client in selection of the issuing bank/financial institution and assist in finalizing the draft for client’s review.
3. Upon receiving the draft copy of the instrument, client must thoroughly review the draft for any corrections, additions or removal of information. Should there be any amendments, we can assist in amendment of the draft accordingly to match clients’ preferences. Once the draft is approved by all the related parties, client will need to send us a copy of the draft with authorized signatory’ sign and company stamp on the draft as client’s approval along with an email confirming the same.
4. We will raise the invoice for the charges agreed and client will make the remittance against the invoice.
5.Only after we receive the payment for the raised invoice, we will assist on following with the issuing bank/financial institution consulted and provide assistance in issuing the instrument through swift/courier within 7 working days depending the issuing bank/financial institution policy.
6. Simultaneously we will assist the client in receiving the issued copy through email for reference and record keeping.
Note: The issuing charges would depend on the amount of the BG required, the type of the BG, the issuing bank selected for issuance and the beneficiary bank to which it is to delivered.