IBEC issues guarantees / counter-guarantees both to support foreign economic activity and within the framework of local transactions / projects.
Bank guarantees are issued:
- to secure the obligations of partner banks on loans and letters of credit;
- to secure the obligations of corporate companies, including non-residents of the IBEC member countries under counter-guarantees of partner banks.
Terms of provision
Participation of a resident of the IBEC member country in the transaction.
A limit set for a partner bank (in case of no limit set, IBEC may carry out procedures to set the limit).
Conducting compliance procedures for the transaction for the parties of the transaction, incl. exporter and importer.
Provision of information at the request of the IBEC about the main transaction in which a guarantee is required.