Guarantees

Director or counter guarantee

The Bank issues both direct and counter guarantees

Direct guarantees are issued in favor of beneficiaries without other Banks-guarantors

Counter guarantees are issued if a Beneficiary needs guarantee of the first class European (or any other) Bank which issues its direct guarantees under counter guarantee of the Bank-counter guarantor. JSCB "Tenge Bank" provides you with services of issuing counter guarantees by using its wide set of Banks-partners of Halyk Bank all over the world. 

Tender guarantee - is a guarantee that ensures obligations of tender's participant in front of tendering authority in accordance with documentations

- Applicable: tenders on trading goods, works or services that are held with purpose of defining provider of goods, works and services
- Applicant: tender's participant who wants to offer goods, works and services
- Beneficiary: tendering authority
- Goal: Ensuring obligations of a potential provider mentioned in tender document
- Sum: 1 % - 5 % of total offer of a tender
- Term: usually 60 days from the date of opening an envelope with tender offers

Guarantee of payment (under contract) – is a guarantee that ensures payment obligations of an Applicant under contract 

- Applicable: if there are trade contracts, contracts on completing work or providing services
- Applicant: buyer of goods, works or services, payer, offeror
- Beneficiary: seller of goods, contractor, performer of works or services
- Goal: ensuring obligations of an Applicant on payments for received goods, performed works on provided services
- Sum: the sum of a guarantee is determined by conditions under contract payments
- Term: usually 15-30 days more than the payment term under contract conditions

Guarantee of prepayment return/advance payment – is a guarantee that ensures performing obligations of an Applicant in accordance with the conditions of which the Bank - guarantor is obliged to compensate the sum of prepayment/advance payment to a buyer (Beneficiary) transferred in favor of an Applicant in case of failing performing obligations of an Applicant on supplying goods, works or services

- Applicable: if there are trade contracts, contract on performing works or providing services and while transferring prepayment/advanced payment 
- Applicant: seller of goods, contractor, performer of works or services
- Beneficiary: buyer of goods, works or services, payer, offeror, who wants to safe himself/herself from risks of not returning prepayment/advanced payments if an Applicant does not perform his/her obligations on supplying goods, performing works and providing services
- Goal: ensuring obligations of an Applicant on supplying goods, performing works or providing services within the scope transferred prepayment/advanced payment
- Sum: Sum of prepayment/advanced payment in accordance with the conditions of payment under contract 
- Term: usually 15-30 days more than the term of contract or deadline, before which a seller of goods, works or services must perform his/her obligations under contract 

Performance guarantee (under contract) – is a guarantee that ensures obligations of an Applicant under contract of buying-selling of goods, performing works or providing services (excluding contracts concluded as a result of a tender)

-  Applicable: if there are trade contracts, contracts on performing works or providing services
- Applicant: seller of goods, contractor, performer of works or services
- Beneficiary: buyer of goods, works or services, payer, offeror who wants to safe himself/herself from risks of not performing obligations by an Applicant on supplying goods, performing works or providing services
- Goal: ensuring obligations of an Applicant on supplying goods, performing works or providing services
- Sum: usually 1% - 20% of total sum of a contract
- Term: as a rule, 15-30 days more than the term of contract or deadline before which a seller of goods, works or services must perform his/her obligations under contract

Guarantee of returning debt/loan repayment  – is a guarantee ensuring obligations of an Applicant on returning the sum of main debt and reward on debt/credit

- Applicable: under loan contracts, contracts of debt/loan
- Applicant: a debtor under contract of debt/credit
- Beneficiary: financial institute that provides debt/credit to an Applicant or opens credit line to the Applicant and thus wants to safe itself in case if an Applicant does not return debt/pay off credit and/or does not pay reward on debt/credit
- Goal: ensuring obligations of an Applicant on returning debt/credit and calculated reward on it
- Sum: main sum of debt/credit or main sum of debt/credit plus calculated reward
- Term: usually 15-30 days more than the date, not later of which an Applicant must return the sum of main debt and/or pay reward on debt/credit

Performance guarantee (in favor of tax authorities of the Republic of Uzbekistan) – is a guarantee ensuring obligations of an applicant on paying off tax payments

- Applicable: under tax payments sanctioned by the legislation of the Republic of Uzbekistan
- Applicant: party which must perform tax payments in accordance with the legislation of the Republic of Uzbekistan
- Beneficiary: tax authority of the Republic of Uzbekistan
- Goal: ensuring obligations of an Applicant on paying off tax payments sanctioned by the Republic of Uzbekistan
- Sum: sum of tax payment which is subjected to paying off in accordance with the legislation of the Republic of Uzbekistan
- Term: usually 15-30 days more than the term, not later of which an Applicant must pay off tax payments