Bank guarantee in the auto business. The principal and beneficiary are the parties to the bank guarantee

Speaking in simple language, a bank guarantee is understood as a type of surety agreement, what is it and what is it used for? In this case, the responsibilities of the guarantor are assigned to the bank or other credit/insurance institution. This means that this organization will be responsible for fulfilling the obligations specified in the agreement.

In this article we will explain in detail what a bank guarantee is and explain this concept in more detail. in simple words!

Purpose

To get a good deal, the enterprise must prove its ability to meet its obligations. Such evidence may include retention of the debtor’s property, a penalty, a deposit, or a bank guarantee agreement.

Drawing up a bank guarantee agreement is quite simple. The client company submits an application to the financial institution, and it undertakes to pay a certain amount to a third party(to the company's partner in the transaction).

The application can be submitted by both legal and an individual who is an individual entrepreneur.

This method has an advantage over others, previously listed methods of guarantee. An enterprise that has entered into a transaction with a bank confirms its solvency, gaining the opportunity to work without prepayment.

In addition, the partner of this company can be absolutely calm about cooperation with it: in the event of an unforeseen situation, he will not have to collect money from the debtor through the court and other authorities. To receive the amount due under a bank guarantee, he will contact a financial institution, present a document, and return his funds.

Another advantage is the ability to purchase services/goods with deferred payment. In other words, having such a document, an individual entrepreneur or legal entity can take the goods for sale.

Most often, banks accommodate the company halfway if the transaction involves the turnover of a large amount. Previously, such a bank guarantee scheme was used to secure foreign economic transactions. Today, having convinced myself of the reliability and simplicity of this method, many businesses use it, regardless of its size and organizational form.

Peculiarities

The peculiarity of this method– a guarantor, which is exclusively a bank or other credit/insurance institution.

Since this “paper” is a kind of credit product, it cannot be obtained without providing collateral.

When concluding an agreement to provide a bank guarantee, it can be securities, deposits, equipment, buildings, goods in circulation, apartments, transport, other assets, guarantees from other organizations/citizens.

After providing security the institution estimates its value. In this case, the real value is reduced to the price at which the property can be sold if an unforeseen situation arises. If the company fails to fulfill its obligations, the institution will implement material values or contact a guarantor.

After collateral assessment the bank and the organization enter into an agreement. At the same time, the “paper” indicates the persons to whom (the principal) and for whose benefit (the beneficiary) it is issued, the commission, the amount, the type of collateral, and the validity period.

The company that received this document gives it to its partner - the counterparty. If the enterprise fulfills its assigned duties, the institution releases its property, removing all restrictions from it.

Kinds

Guarantees vary depending on who they are issued to and for what purposes they are intended.

Types of bank guarantee:

• tender;
• payment;
• fulfillment of the contract;
• loan repayment or chargeback;
• to ensure the fulfillment of obligations;
• on customs payments.

The most popular payment method is considered, which is issued in favor of the seller at the request of the buyer. As for the bank guarantee agreement as a way to ensure the fulfillment of obligations, it is issued in favor of the buyer at the request of the seller.

Companies require performance guarantees from their partners, to make sure there are no supply disruptions and all work will be completed on time. Otherwise, the financial institution will have to pay the amount specified in the agreement.

A bank guarantee is an effective tool that ensures productive, reliable cooperation between legal entities/individuals. For the party in need of surety, he is the best solution than lending.

A bank guarantee - what it is, its essence and why it is needed - a specialist will tell you everything in this video:

This is due to the fact that using this method is much cheaper than a loan, gives the partner confidence in cooperation and contributes to the formation of trusting relationships between business partners.

In contact with

A solid business requires borrowed funds and guarantees from third parties. However, there is something more significant and reliable, which we will discuss below. This article examines bank guarantees, what they are, and what their advantages are. The material will be useful for both experienced players in the debt market and beginners.

What is a bank guarantee in simple words?

This is the bank’s obligation to pay the lender a certain amount of money in the event of a violation of the agreements under the contract by the supplier (contractor, performer). The payment is made on the terms and conditions stated in the guarantee document, which is drawn up in writing on a letterhead and certified with an official seal.

In the strict sense of the word, a BG is called an independent guarantee - the corresponding innovations were introduced in June 2015 into the norms of the Civil Code of the Russian Federation, however, for a better understanding, we will call it a more familiar term - a bank guarantee (BG).

When is a bank guarantee useful: its types

Warranty obligations are a fairly common form of transaction security, used in many market segments. Depending on the final goal of the recipient, in practice several types of bank guarantees can be distinguished:

• Tender. Mandatory security used in the public procurement procedure and guaranteeing compliance with the terms of the competition by the participant, as well as the further fulfillment of their obligations.
• Payment. Relevant in the field of trade credit, as well as for obtaining installment payments from the supplier. Guarantees payment for products in case of delay or debt on the part of the debtor.
• Customs. It is used in the process of customs clearance of goods and their clearance when crossing the border. Such a guarantee is paid to the customs (tax) authorities in established by law cases.
• Executions. Ensures proper execution of the transaction by the contractor. Payments from the bank are due to the customer and are made in the event of failure to fulfill obligations by the counterparty under the agreement.
• Refund of payment. The bank reimburses the beneficiary for the amount of the unreturned advance payment.
• Loan repayment. The recipient of the guarantee payment is the creditor who issued the borrowed funds.

A bank guarantee is a serious help for business in various areas of economic activity. In essence, a well-executed guarantee performs the function insurance policy for the lender and a letter of credentials certifying good faith and solvency for the borrower.

Parties to warranty obligations

A guarantee agreement is concluded between two participants - the borrower (principal) and the bank (guarantor) in favor of a third participant - the lender (beneficiary). The borrower usually acts as the executor (contractor) or buyer (acquirer) of the transaction.

A banking or other credit institution, as well as commercial organizations, can act as a guarantor. If the guarantee is issued by other entities, then it is equivalent to a guarantee agreement and entails other legal consequences for the parties to the agreement.

If a guarantee is required to participate in the public procurement procedure, it can only be issued by an authorized bank that meets all the requirements of Part 3 of Art. 74.1 of the Tax Code of the Russian Federation and included in a special list approved by the Ministry of Finance. Warranty obligations for tenders are registered in the Unified information system procurement Banks that have the right to issue guarantees under Federal Law 223 are not subject to mandatory registration in the Register, but their list can be viewed on the Central Bank website in the directory of credit institutions.

By receiving a bank guarantee through an electronic exchange website, you don’t have to think about these subtleties - our services have “thought” for you, taking into account all the nuances of the procedure.

What should be included in the bank guarantee?

A comprehensive answer to this question is provided to us by Part 4 of Article 368 of the Civil Code of the Russian Federation, which lists the mandatory conditions of a bank guarantee, namely:

• date of document execution;
• names of participants;
• obligation secured by a guarantee document;
• the amount of payments or the algorithm for calculating it;
• validity period of the security;
• conditions of guarantee payment and the necessary documentary evidence for this.

The document may contain additional clauses agreed upon by the parties:

• conditions for possible changes in the guarantee amount;
• circumstances for recalling the BG;
• the beneficiary's right to transfer claims to third parties;
• the moment the guarantee comes into force, if it does not coincide with the moment of its transfer (sending) by the guarantor and other conditions essential for the counterparties.

Issues not specifically specified are regulated by current legislative norms.

What are the advantages of a bank guarantee?

If you were interested in this issue, you came across the statement that obtaining a BG is much more profitable than other types of security. Let's see if this is true.

Many years of experience in this area allows us to assert that bank guarantees are much more profitable and convenient to use than other security measures, including sureties and collateral.

Advantages of BG:

1. It is cheaper - of course, if you approach its acquisition thoughtfully, using the services of our electronic exchange managers.

2. Does not require withdrawal of money from circulation, as in the case of registration of a pledge. Borrowed funds will be even more expensive - the interest on loans is usually higher than the commission on a bank guarantee.

3.It is not related to the history of the main transaction - in fact, it remains unchanged throughout the entire period of validity, unless the parties have agreed on other conditions, while a guarantee directly depends on the fate of the secured obligation.

4. In situations specified by law, it is the only possible means provision. Thus, in the field of tender procurement, a bank guarantee is defined by the special law Federal Law No. 44 as a mandatory component of admission to competitive bidding.

5. A reliable security measure that provides the recipient with greater market opportunities, including the right to trade credit and deferred payment.

For a lender, such collateral is a proven, legitimate way to reduce its own risks and at the same time verify the financial position of the intended counterparty. Thus, an independent guarantee acts as a kind of certificate confirming the solvency and economic stability of the borrowing company.

What affects the price of a warranty agreement?

How much BG will cost you depends on several significant factors:

1. The amount of the main contract and the subject of the secured obligation.

2. The amount of the guarantee payment that the borrower is applying for, or the legally established amount of payments.

3. The validity period of the BG during which the beneficiary can receive the amount due.

4. The presence (or absence) of liquid collateral, with the help of which the bank reduces its own risks.

The cost of the guarantee is the base value for calculating the commission paid to the bank on the day the documentation is completed. In practice, the guarantor's remuneration ranges from 2% to 10% or is a fixed amount with a lower minimum threshold calculated in rubles.

We need a guarantee. Where to begin?

1. Decide on a bank. If you managed to obtain collateral from a credit institution last time, it is not a fact that they will issue it to you again. In addition, the criteria for the “reliability” of borrowers differ for each organization - it is important to find “your” lender.

2.Apply with necessary documents to the selected institution. Perfect for both experienced and newbies electronic service allowing you to submit an application simultaneously to 30 partner banks of the exchange.

3.After verifying the financial status of the applicant, the bank will either reject or approve the application.

4.If the decision is positive, you proceed to the stage of directly issuing a bank guarantee.

5. From the moment the document is received from the guarantor, it comes into force and is valid for the period specified in it.

It's time to use the benefits you've received!

We have tried to describe in detail what a bank guarantee is in simple language for those who intend to independently understand this issue. If you do not have the time and desire to prepare warranty documents, you can use the website’s services and entrust this work to experienced managers.

Article 368. The concept of a bank guarantee

By virtue of a bank guarantee, a bank, other credit institution or insurance organization (guarantor) gives, at the request of another person (principal), a written obligation to pay the principal's creditor (beneficiary) in accordance with the terms of the obligation given by the guarantor, a sum of money upon submission by the beneficiary of a written demand for its payment.

Commentary on Article 368

1. The institution of a bank guarantee in the form in which it is enshrined in the Civil Code of the Russian Federation is fundamentally new for Russian legislation. Nothing like this had ever existed before.

A guarantee, including a bank guarantee, is qualified in civil law as a type of surety agreement. The current bank guarantee has little in common with a guarantee. Moreover, it stands apart from other methods of ensuring the fulfillment of obligations. This is due to the specific features of the guarantee, the special subject composition of the relations arising regarding the issuance and execution of the guarantee, and the rather unique content of the relevant legal relations.

Bank guarantees are not widely used in Russia. In other countries, as well as in Russian relations legal entities With foreign organizations, the use of a bank guarantee to secure obligations is quite common. There is even a system of customary legal norms on contractual guarantees, the content of which largely predetermined the content of the norms of the Civil Code of the Russian Federation on bank guarantees.

2. A bank guarantee is characterized by the following features:

Independence, independence from the obligation it provides, even if the guarantee contains a reference to this obligation (Article 370 of the Civil Code). In each specific case, a bank guarantee owes its existence to the main obligation, since it is impossible to provide for an obligation that does not exist. The independence of the guarantor's obligation is obviously manifested in the fact that, when considering the beneficiary's claim, the guarantor cannot raise objections based on the relationship of the beneficiary and the principal;

Irrevocability: the guarantor has the right to revoke the guarantee only if it provides for such a possibility (Article 371 of the Civil Code);

Non-transferability of rights: the beneficiary can assign to a third party the right of claim against the guarantor belonging to him under a bank guarantee only if such a possibility is provided for in the guarantee itself (Article 372 of the Civil Code);

Remuneration: for issuing a guarantee, the principal pays a fee to the guarantor (Article 370 of the Civil Code);

A high degree of formalization of relations, which manifests itself, for example, in the fact that even if the beneficiary has grounds to demand from the guarantor the fulfillment of the obligation provided for by the guarantee, but the documents attached to the corresponding request of the beneficiary do not comply with the terms of the guarantee, the guarantor refuses to satisfy such demand (clause 1 of article 376 of the Civil Code).

3. The subject composition of a bank guarantee is quite specific.

Three entities are involved in relations arising regarding a bank guarantee:

1) guarantee- it can only be a bank, other credit institution or insurance organization. If, to secure any obligation, a “bank guarantee” is issued by some other entity (commercial or non-commercial legal entity, state or local government body, etc.), then such a guarantee is invalid (void), since the legal capacity of these entities is not includes the possibility of issuing a bank guarantee;

2) principal- a person who acts as a debtor in any obligation (credit, purchase and sale agreement, lease, contract, etc.). A bank guarantee is given at the request of the principal. Consequently, a bank guarantee issued without such a request is invalid (Article 168 of the Civil Code);

3) beneficiary- creditor of the principal for the obligation secured by the bank guarantee.

Principals and beneficiaries can be any subjects of civil law.

Since Art. 329 of the Civil Code of the Russian Federation contains an open list of ways to ensure the fulfillment of obligations, then other entities in addition to those named in the commented article can issue guarantees to secure obligations. However, on the one hand, these guarantees will be outside the legal regime of a bank guarantee. The rules of civil law on a bank guarantee will not apply to such methods of securing obligations.

On the other hand, it would be wrong to assume that guarantees issued by entities other than those specified in the commented article are guarantee guarantees. It all depends on what content the participants in the relevant relationship fill the concept of “guarantee”.

4. The legal and factual basis for the development of relations regarding a bank guarantee can be presented as follows.

Firstly, the initiative in establishing the relevant relationship is taken by the debtor under any obligation (the guarantee is given at his request), who, as a result of the issuance of a bank guarantee, becomes the principal. The position of the creditor of the said debtor has no legal significance. However, there is no doubt that the debtor’s initiative itself, as well as the terms of the bank guarantee that the debtor asks for, are dictated by the creditor’s requirements for the debtor (for example, when concluding a purchase and sale agreement that provides for payment of goods in installments, the seller requires that the buyer’s obligation to pay for the goods be secured by a bank guarantee from a specific entity).

Secondly, a bank, other credit institution or insurance organization expresses its will to be a guarantor by issuing a corresponding written commitment.

5. Registration of a bank guarantee is carried out in several stages.

The debtor under any obligation (principal) turns to a bank, other credit institution or insurance organization (guarantor) with a request to give an obligation, subject to certain conditions, to pay the creditor of this debtor (beneficiary) a sum of money upon submission by the beneficiary of a written demand for its payment. This request is made in writing. In addition to the request to give a bank guarantee, the possible conditions of a future guarantee, the amount of remuneration that the future principal is willing to pay to a potential guarantor for issuing a bank guarantee, etc. can be set out here. The relationship between the principal and the guarantor regarding the issuance of a bank guarantee by the latter is regulated by their agreement, which establishes the amount of remuneration paid by the principal to the guarantor, defines the rights and obligations of the guarantor and the principal arising in connection with the payment by the guarantor to the beneficiary of sums of money in fulfillment of the latter’s requirements, etc. .

Finally, a bank, other credit institution or insurance organization gives a written obligation to pay the principal’s creditor (beneficiary) an amount of money upon submission by the beneficiary of a written demand for its payment. This written obligation (bank guarantee) defines the amount for which the guarantee is issued, formulates the conditions under which the guarantor undertakes to pay the specified amount or part of it to the beneficiary, provides a list of documents that must be attached by the beneficiary to the request for payment by the guarantor of the amount of money, indicates the period for which the guarantee is issued.

There are known cases of issuing bank guarantees, the validity of which expired on the day of fulfillment of the obligation secured by the guarantee established by agreement between the debtor and the creditor. Before this day arrives, it is still impossible to demand from the guarantor the fulfillment of his obligation (the beneficiary will not be able to indicate what the principal’s violation of the “main” obligation was). After the expiration of the period, it is no longer possible to submit a corresponding claim to the guarantor, since the guarantor’s obligation has ceased. The case when the bank guarantee expires before the deadline for fulfilling the main obligation can be characterized similarly. Courts usually proceed from the fact that in such circumstances the bank guarantee is invalid, because when it was issued there was initially no security function in relation to the “main” obligation.

In addition, the bank guarantee may provide for the right of the guarantor to revoke the guarantee, may provide for the conditions for revocation, may establish the right of the beneficiary to transfer the right of claim belonging to him by virtue of the bank guarantee to another person, may establish the period for the entry into force of the bank guarantee, and finally, may limit the liability of the guarantor before the beneficiary for failure to fulfill or improper fulfillment by the guarantor of the obligation under the guarantee.

It is possible to formalize relations regarding a bank guarantee by drawing up one document signed by the guarantor and the beneficiary, and sometimes even the principal, and this document may set out not only the terms of the guarantee, but also the rules on the relationship between the guarantor and the principal, although from the point of view of legal technology This formalization of relations is not correct enough, but it is quite acceptable.

The guarantor's obligation must be in writing.

Typically, a bank guarantee is given by issuing (sending) a so-called letter of guarantee or a document entitled “Bank Guarantee” or more simply “Guarantee”.

The first title of the document containing the terms of the bank guarantee does not seem to be very successful. Nevertheless, one can predict some distribution of such documents - a tradition. (Sometimes a letter of guarantee is a document that does not have a title, executed on the letterhead of the guarantor bank, containing an indication of the beneficiary and the terms of the guarantee.) It is much worse if “bank guarantee agreements” are drawn up, which are sometimes mentioned in the literature. The presence of such “agreements” creates the illusion that a contractual relationship exists between the guarantor and the beneficiary. The embodiment of a bank guarantee in a form typical of bilateral or multilateral transactions contradicts the essence of the relationship between the beneficiary and the guarantor.

To issue a bank guarantee, the will of one party - the guarantor - is necessary and sufficient. Consequently, this is a one-sided transaction (clause 2 of Article 154 of the Civil Code). As a result, a unilateral obligation arises, according to which the guarantor undertakes to pay a certain amount of money to the beneficiary-creditor under the obligation secured by the bank guarantee.

6. As follows from the above, a bank guarantee very effectively ensures the interests of the creditor (beneficiary). It can be used to secure various obligations, including credit obligations. Another thing is that, while beneficial to the beneficiary bank, a bank guarantee is quite “dangerous” for the guarantor bank. Therefore, the guarantor bank usually strives to ensure that the principal’s recourse obligation, in turn, is secured by a pledge, surety, or even a bank guarantee. For example, the creditor (future beneficiary) will only be satisfied with the guarantee of bank “A”. This bank agrees, but on the condition that the recourse obligation will be secured by a guarantee from Bank “B”, or by a pledge of certain property, or by a guarantee of a certain entity, etc.

The concept of “bank guarantee” is the most effective tool for ensuring the security of a transaction.

Essentially, this is a loan product that is much cheaper in equivalent than a cash loan. By providing these services, the bank takes a commission, i.e. its interest.

What it is

In simple terms, a bank guarantee is an obligation of the bank, set out in writing, that if they fail to comply with certain terms of the contract, they are obliged to pay the customer a specified amount of money.

This is necessary to achieve maximum efficiency in fulfilling the obligations specified in the contract. When concluding many transactions, it is this risk reduction factor that is the main condition for further joint cooperation.

In such processes, as a rule, three subjects are involved, namely:

1. The first entity is called the guarantor and is an institution that undertakes financing, charging a certain fee and specific obligations for this.
2. The second subject is the principal, namely the initiator himself for providing this obligation, and he is also the executor of the main contract.
3. The third party, who is also the customer behind the main contract, is called the beneficiary, this is the person whose interests are protected.

The classification of bank guarantees depends on the type of transaction.

There are bank guarantees such as:

• tender guarantee, also known as competitive guarantee. In the event that the winner of the tender for some reason refuses further cooperation, this guarantee can reduce the customer’s risks;
• performance guarantee. This type of guarantee minimizes risks during the delivery of goods, guaranteeing its timeliness and completeness. The same thing happens when performing any work or services;
• payment guarantee. Provides control over the timeliness of payments for services provided (work) or delivery of goods;
• advance guarantee. This is control over the fulfillment of obligations to return the advance payment, if for any reason the terms of the transaction were violated, both in terms of timing and volume;
• tax, customs guarantee. Monitors how obligations to these government agencies are fulfilled.

In addition to the above, there are other types of guarantees, which depend on the goals set for the transaction. In addition, bank guarantees are divided into revocable and irrevocable.

Why are bank guarantees needed?

To explain in simple terms more clearly why bank guarantees are needed, it is better to use an example.

Consider the following scheme of work:

1. Company P (principal) decided to enter into a contract with company B (beneficiary), who is also the customer, in other words, the buyer of this product.
2. Next, company B tries to protect itself and obtain certain guarantees that the goods will be delivered on time and in full. To do this, company P, who is also the principal and executor, engages a guarantor, namely bank B, and receives from him the necessary guarantee in writing.
3. Next, bank B undertakes to undertake guarantees for the fulfillment of obligations, that is, to pay firm B, if firm P does not fulfill its obligations, the agreed percentage of the contract amount. Naturally, the bank also assumes such obligations for a certain amount.
4. If such a case occurs and company P violates its obligations, then it can demand from the bank in writing that it fulfill its guarantee obligations to pay compensation for damage.
5. The bank, in turn, pays the required amount to the beneficiary, i.e., the customer, and will demand reimbursement of the funds paid by the company P (principal).

There are other ways to reduce the risks of a transaction - this is to obtain cash collateral, but for this the executing company must extract a certain amount of money from the cash flow. It is worth noting that this is a rather unprofitable enterprise, since in this case it is often necessary to resort to attracting borrowed money, which will be several times more expensive.

Registration procedure

The registration procedure consists of the following stages:

• the very desire to conclude such a deal;
• search by the executor (principal) for a direct guarantor in the form of a bank;
• filling out an application for a guarantee;
• submission of a package of all necessary documents to the guarantor bank;
• carrying out actions to verify the client’s solvency;
• direct conclusion of the agreement itself between the principal and the guarantor;
• the execution of the contract itself.

You can search for a guarantor bank either independently or through a broker. It would even be easier to contact a bank that works directly without intermediaries, namely Sberbank.

What documents do you need to have?

Every bank that decides to take on a guarantee obligation primarily risks its own funds. The latter are spent if an occasion arises. Refunds under the contract must come from the client, who undertakes to pay them.

Risk is, of course, a noble thing, but not always justified. Securing obligations plays an important role when concluding an important contract, and a bank guarantee can help with this. The bottom line is that the bank acts as a guarantor that the terms of the transaction will be met. This is important for government procurement, participation in tenders, conducting operations at the international level, and accepting advance payments.

Concluding any transaction is a potential risk. Refusal to fulfill obligations by one party can cause serious material damage the other side.

The greatest risk arises in international transactions and transactions with deferred payment. A guarantor of fulfillment of obligations, which is provided by a third party, can mitigate the situation. Such a guarantee is irrevocable, except in cases where the second party in whose favor the document is issued refuses the contract.

A bank guarantee is a promise by the bank to fulfill obligations for a third party. Despite the fact that the guarantee is called a bank guarantee, it can also be issued by any commercial organization. However, not all contracts can be concluded with such guarantees. For example, in transactions with the state, only a bank is required to act as a guarantor.

Such security is necessary for companies that work with the state and participate in competitions to receive orders, and for this they often need to provide a guarantor for its implementation. It is required for transactions:

• on government procurement;
• with the holding of a competition;
• with deferred payment;
• customs.

Insurance is used to cover the risks of developers and travel companies.

The rules for providing a guarantor are regulated by the Civil Code (Articles 368-379). You can issue a bank guarantee either independently or with the help of a credit broker.

Parties to the agreement

There are 4 parties involved:

• guarantor - one party who guarantees;
• beneficiary - the second party to whom the guarantee is issued;
• principal - the third party for whom the guarantee is issued;
• the principal's bank (he applies for a guarantee).

Bank guarantees under 44 Federal Laws are issued to legal entities and are used when concluding international transactions or conducting operations in the domestic market. They are needed to ensure proper execution of the terms of the contract.

When participating in a bank transaction, the principal pays a fee to the credit institution. Its size depends on many conditions of the transaction, in particular, its volume and the reliability of the company for which the guarantor is issued, and, as a rule, the fee ranges from 1-3% of the contract amount. To secure obligations, the bank may require collateral, for example, real estate, goods, securities. As an option, the principal is offered to issue a security deposit.

Which bank can provide the service?

Not every credit institution is authorized to issue bank guarantees to secure transactions under government contracts. The list of banks is established by the Ministry of Finance based on information provided by the Central Bank. Main requirements for banks:

• 5 years banking license;
• 1 billion rub. minimum size capital;
• there are no signs of bankruptcy of the credit institution.

Examples of banks that can be guaranteed:

• Rosselkhozbank (registration 2000, capital 287,541,037 thousand rubles);
• Sberbank of Russia (registration 1991, capital 2,535,918,643 thousand rubles);
• VTB (registration 1990, capital 1,105,036,829 thousand rubles);
• Binbank (registration 1993, capital 54,743,871 thousand rubles).

Previously, the issuance of bank guarantees for government procurement was carried out by Insurance companies. However, now they cannot carry out such activities.

Types of bank guarantees

A guarantor is required to ensure:

• fulfillment of obligations by the tender participant;
• execution of the contract;
• refund of advance payment.

First of all, a guarantor is needed to participate in a tender, auction or competition. They secure the participant’s application, and if the participant wins the auction, then the contract too. The validity period may vary depending on whether the company wins the tender. If not, then until the winner is announced, if yes, then for the duration of the contract.

Ensuring compliance with the terms of the transaction is also a common situation when you need to use a bank guarantee. If the bidder is the winning bidder, he must confirm that he will fully comply with all terms of the transaction. The guarantor must be present before signing the contract. If the terms of the contract are violated, the bank will pay penalties and fines.

A bank guarantee can become a guarantor of payment security. Provided if the customer makes an advance payment to the contractor. Its size may vary and is established by agreement. So, so that the contractor does not disappear along with the money, the customer may require security for this advance. Also, such a guarantee protects against misuse of funds.

A customs guarantee is necessary to ensure payment of customs duties to the budget. It is issued to the customs authority.

Can the bank refuse?

The bank has the right to refuse payment if the beneficiary has not provided documents confirming the right to receive the money. The bank can also suspend payment if it has any doubts. However, the delay period should not exceed 7 days. The reason for refusal may also be an unlawful demand. There are no other reasons and, if a circumstance has arisen in which the guaranteed amount must be paid, this must be done.

What does the document look like?

It is always in writing. The document must reflect the following:

• all parties to the transaction (guarantor, principal, beneficiary);
• date of issue and validity period;
• the obligation that is secured;
• the amount and procedure for payment when certain situations occur.

The terms and conditions cannot be changed.

Who can use it?

Banking services can be used by both individuals and legal entities. However, the latter need it more. Not every company can count on receiving it. The reputation of the principal is important. It is easier for a large company with good turnover to obtain it. Having a current account in the required bank can also simplify the procedure. A good credit history is another pro.

The main condition of a credit institution is the solvency of the company for which the bank guarantees. This can be verified by analyzing the financial and economic activities of the enterprise. Several years of documentation may be required. Another important condition is securing the transaction, in simple words, collateral. The bank can also provide such a service without collateral, but the fee for it will be higher.

When the contract ends

The contract is terminated if:

• the deadline has expired;
• the beneficiary received the money;
• the beneficiary has waived his rights.

The principal and the guarantor bank cannot terminate it unilaterally.

Counter-guarantee

In addition to the guarantee, there is also a counter-guarantee. It is issued by the principal's bank in favor of the guarantor to secure the principal's obligations to the guarantor. Also a kind of insurance in case of failure to fulfill the terms of the contract.

Thus, what is a bank guarantee and why is it needed? You can say in your own words that it is a kind of insurance in case one party violates its obligations under the contract. The service is necessary for transactions with the state and participation in tenders, competitions, trades, and for concluding contracts at the international level. It can be provided by both banks and commercial organizations, depending on the purpose for which such a guarantee is required.

Union and hereby Federal law, - the obligation of another person (principal) to pay customs duties, taxes, customs duties, special, anti-dumping, countervailing duties, if the payer (other person) does not pay the due amounts of customs duties, taxes, customs duties, special, anti-dumping duties within the established period , countervailing duties, penalties, interest in accordance with the terms of the obligation given by the guarantor to pay an amount of money at the request of the customs authority to pay this amount.

3. The provisions of civil law apply to legal relations arising when accepting a bank guarantee as a way to ensure the fulfillment of obligations Russian Federation, legislation on electronic signatures and this Federal Law.

4. To ensure the fulfillment of duties, customs authorities accept bank guarantees issued by banks included in the register of banks that have the right to issue bank guarantees (hereinafter in this chapter - the register), as well as bank guarantees issued by VEB.RF or the Eurasian Development Bank. The register is maintained by the federal executive body exercising control and supervision functions in the field of customs affairs.

(see text in the previous edition)

5. A bank guarantee issued by VEB.RF or the Eurasian Development Bank is accepted by the customs authority subject to the conditions established by this article, unless the maximum amount of one bank guarantee and the maximum amount of all simultaneously valid bank guarantees of VEB.RF or the Eurasian Development Bank established by The Government of the Russian Federation, and there are no grounds provided for in paragraphs 3 - 7 of part 18 and part 19 of this article.

(see text in the previous edition)

6. The bank guarantee is submitted to the customs authority in the form of a document on paper or an electronic document signed by a strengthened qualified electronic signature a person who has the right to sign bank guarantees on behalf of the guarantor.

7. The bank guarantee must contain information:

1) on the condition according to which the fulfillment of the guarantor’s obligations under the bank guarantee is the actual receipt Money to the account of the Federal Treasury;

2) on reducing the amount of the guarantor’s obligations under the bank guarantee by the amount of the payment made by the guarantor under the bank guarantee. The payment amount by which the guarantee amount is reduced does not include the amount of penalties paid by the guarantor in connection with the delay in fulfilling obligations under the bank guarantee;

3) on the obligation of the guarantor to pay the customs authority a penalty in the amount of 0.1 percent of the amount payable for each calendar day of delay in fulfilling obligations under the bank guarantee;

4) on the application by the customs authority of measures to collect from the guarantor amounts, the obligation to pay which is secured by a bank guarantee, in the manner and within the time limits that are provided for by this Federal Law, in the event of its failure to comply within the established period with the requirement to pay the amount of money under the bank guarantee sent before the expiration of the bank guarantee;

5) that the bank guarantee cannot be revoked or changed by the guarantor.

8. If a bank guarantee is provided as general security, the beneficiary of such a bank guarantee must be the customs authorities.

9. The bank guarantee on the day of its submission to the customs authority must come into force, unless otherwise provided by part 10 of this article.

10. It is allowed to submit to the customs authority and accept it a bank guarantee before it comes into force in order to comply with the conditions of continuity of ensuring the fulfillment of obligations provided for in paragraph 4 of Article 63, paragraph 9 of Article 399 and paragraph 9 of Article 436 of the Code of the Union, provided that the difference between the day of submission of the bank guarantee to the customs authority and the day of its entry into force does not exceed ninety calendar days, and the validity period of the previously accepted security for the performance of obligations expires no earlier than one day before the entry into force of the bank guarantee.

11. A bank guarantee, depending on the obligations provided, is presented:

2) to the federal executive body exercising control and supervision functions in the field of customs affairs - for a bank guarantee provided as general security.

12. A bank guarantee issued in the form of an electronic document signed with an enhanced qualified electronic signature is submitted to the customs authority by the guarantor in accordance with the procedure provided for in Part 32 of this article.

13. A bank guarantee, issued in the form of a paper document, is submitted to the customs authority by the principal with a covering letter. The principal, together with the original of the bank guarantee, presents the originals or notarized copies of documents confirming the relevant powers of the persons who signed the bank guarantee, and a card certified in the prescribed manner with sample signatures of these persons and a seal impression (if there is a seal) of the guarantor who issued the bank guarantee, or a notarized copy of such a card. If the specified documents and card were previously submitted to this customs authority, their presentation is not required.

14. The customs authority accepts the provided bank guarantee or refuses to accept it within a period not exceeding:

1) five working days from the date of its receipt - for a bank guarantee issued in the form of a paper document;

2) one business day following the day of its receipt - for a bank guarantee issued in the form of an electronic document signed with an enhanced qualified electronic signature.

15. A bank guarantee is accepted by the customs authority subject to the conditions established by this article, if the bank that issued it on the day of receipt of the specified bank guarantee by the customs authority is included in the register and the maximum amount of one bank guarantee and the maximum amount of all simultaneously valid bank guarantees specified in register for this bank, and there are no grounds provided for in parts 18 and this article.

16. If a bank guarantee is accepted, the customs authority, within a period not exceeding two working days from the date of its acceptance, sends the principal a customs receipt for the amount specified in the bank guarantee.

17. If the bank guarantee is presented in the form of an electronic document signed with an enhanced qualified electronic signature, the customs authority sends information about its acceptance to the guarantor who issued the bank guarantee.

18. The customs authority refuses to accept a bank guarantee issued in the form of an electronic document signed with an enhanced qualified electronic signature if there is at least one of the following grounds:

1) review Central Bank Russian Federation from the bank that issued the bank guarantee, licenses for banking operations, appointment of a temporary management administration to the bank credit institution or the introduction of a moratorium on satisfying the claims of bank creditors;

2) the absence of the bank that issued the bank guarantee in the register on the day the specified bank guarantee was received by the customs authority;

4) the presence in the bank guarantee of erroneous (incorrect, unreliable) information about the guarantor, principal and (or) beneficiary, about the secured obligation, if such erroneous (incorrect, unreliable) information may lead to the guarantor’s refusal to pay under the bank guarantee;

5) failure to comply with the limitation on the maximum amount of one bank guarantee and (or) the maximum amount of all simultaneously valid bank guarantees specified in the register for the bank that issued the bank guarantee, or failure to comply with the limitation on the maximum amount of one bank guarantee and (or) the maximum amount of all at the same time current bank guarantees of VEB.RF or the Eurasian Development Bank established by the Government of the Russian Federation;

(see text in the previous edition)

6) the presence in the bank guarantee of an indication that the customs authority has submitted to the guarantor documents that are not provided for in this article;

7) the validity period of the bank guarantee expires earlier than three months after the date of the established deadline for fulfilling the obligation to pay customs duties, taxes, customs duties, special, anti-dumping, countervailing duties secured by the bank guarantee, or the deadline for the occurrence of the event with which the fulfillment of the obligation is associated payment of customs duties, taxes, customs duties, special, anti-dumping, countervailing duties.

19. The customs authority refuses to accept a bank guarantee issued in the form of a paper document and returns it to the principal if one of the grounds provided for in Part 18 of this article is present, and (or) one of the following grounds:

1) failure to receive information in electronic form from the guarantor to the federal executive body exercising functions of control and supervision in the field of customs affairs about the issuance of a bank guarantee in accordance with the procedure provided for by Part 32 of this article;

2) signing of a bank guarantee by persons who do not have the appropriate authority and (or) persons whose authority to sign the bank guarantee has not been confirmed;

3) discrepancy between the guarantor's seal imprint on the bank guarantee and the guarantor's seal imprint on the card with sample signatures of the persons who signed the bank guarantee and the guarantor's seal imprint (if there is a seal) that issued the bank guarantee, if the guarantor has a seal;

4) discrepancy between the signatures of the persons who signed the bank guarantee on the bank guarantee and the sample signatures of the persons indicated on the card with the sample signatures of the persons who signed the bank guarantee and the seal of the guarantor (if there is a seal) that issued the bank guarantee;

5) failure to comply with other conditions established by this article.

20. The provisions of paragraph 7 of part 18 of this article do not apply to bank guarantees that ensure the fulfillment of the duties of a legal entity operating in the field of customs affairs and (or) the duties of an authorized economic operator, as well as bank guarantees used as general security, or in cases where the obligation to pay customs duties, taxes, customs duties, special, anti-dumping, countervailing duties has not arisen.

21. In case of refusal to accept a bank guarantee, the customs authority, within the period established by part 14 of this article, informs in the form of a document on paper or an electronic document signed with an enhanced qualified electronic signature, the principal and guarantor who issued the bank guarantee about the refusal, indicating the reasons which served as the basis for refusal. Simultaneously with the refusal, the bank guarantee, drawn up in the form of a paper document, is returned to the principal.

22. If a bank guarantee is accepted by the customs authority before the obligation to pay customs duties, taxes, customs duties, the obligation to pay special, anti-dumping, countervailing duties arises, then the bank guarantee cannot be used to ensure the fulfillment of such obligations if the validity period of the bank guarantee expires earlier than three months from the date of expiration of the established period for fulfillment of these obligations or the period of occurrence of the event with which the fulfillment of the obligation to pay customs duties, taxes, customs duties, special, anti-dumping, and countervailing duties is associated.

23. The customs authority that accepted the bank guarantee sends the guarantor a waiver of its rights under the bank guarantee, if the validity of such guarantee has not terminated, in the cases established by paragraph 13 of Article 399 and paragraph 23 of Article 436 of the Code of the Union, as well as in cases where the obligation to payment of customs duties, taxes, customs duties, special, anti-dumping, countervailing duties, the execution of which is secured by such a bank guarantee, has been fulfilled in full, has been terminated or has not arisen, or in exchange for the bank guarantee, other security for the fulfillment of duties has been provided and accepted by the customs authority.

24. The customs authority’s waiver of its rights under the bank guarantee is issued in the form of an electronic document signed with an enhanced qualified electronic signature. If the bank guarantee is issued in the form of a paper document, it cannot be returned.

25. In the event that the Central Bank of the Russian Federation revokes the license to carry out banking operations from the bank that issued the bank guarantee, appoints a temporary administration to the bank to manage the credit organization and (or) introduces a moratorium on satisfying the claims of the bank’s creditors, the principal is obliged no later than one month from the date of revocation of the license submit to the customs authority new security for the fulfillment of duties.

29. The maximum amount of one bank guarantee and the maximum amount of all simultaneously valid bank guarantees issued by one bank included in the register for the acceptance of these guarantees by customs authorities are established by the federal executive body exercising the functions of developing state policy and legal regulation in the field of customs business, depending on the amount of equity (capital), the values ​​of mandatory standards provided for by Federal Law of July 10, 2002 N 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)”, and other criteria.

30. The maximum amount of one bank guarantee and the maximum amount of all simultaneously valid bank guarantees issued by VEB.RF or the Eurasian Development Bank for the acceptance of these guarantees by customs authorities are established by the Government of the Russian Federation. the procedure established by the Central Bank of the Russian Federation in agreement with the federal executive body exercising control and supervision functions in the field of customs affairs. Transfer by VEB.RF or the Eurasian Development Bank to customs authorities, as well as by customs authorities to VEB.RF or the Eurasian Development Bank of electronic documents signed with an enhanced qualified electronic signature, and information in electronic form provided for by this article, is carried out in the manner established by the agreement the federal executive body exercising control and supervision functions in the field of customs, with VEB.RF or the Eurasian Development Bank.

(see text in the previous edition)

33. The composition and structure of information in electronic form sent by banks to customs authorities, as well as by customs authorities to banks, provided for in this article, are established by the Central Bank of the Russian Federation in agreement with the federal executive body exercising control and supervision functions in the field of customs affairs . The composition and structure of information in electronic form sent by VEB.RF, the Eurasian Development Bank to customs authorities, as well as by customs authorities in VEB.RF, to the Eurasian Development Bank, provided for by this article, are established by agreement of the federal executive body exercising the functions of control and supervision in the field of customs, with VEB.RF or the Eurasian Development Bank.

(see text in the previous edition)

34. A bank guarantee can be used to ensure the fulfillment of the obligations specified in paragraph 16 of Article 399 of the Code of the Union, if this is provided for by the conditions of such a bank guarantee.

Bank guarantee– a written promise by a bank to pay another bank, company, or someone under a contract, loan, or debt security for a third party if that party fails to fulfill its obligations.

Note that a bank guarantee is a convenient tool for counterparties to a transaction.

And for a credit institution, a bank guarantee is a source of additional income.

Definition of the concept of “bank guarantee” in civil law

The very concept of “bank guarantee” is given in Article 368 of the Civil Code of the Russian Federation.

According to this norm of legislation, a bank guarantee is a method of ensuring the fulfillment of obligations in which a bank, other credit institution or insurance organization (guarantor) issues, at the request of the debtor (principal), a written undertaking to pay the creditor (beneficiary) a sum of money upon presentation of a demand for its payment. .

Thus, at least three persons are involved in relations related to the issuance of a bank guarantee: the principal and the guarantor.

The guarantor of a bank guarantee is a bank, other credit institution or insurance organization.

The principal of a bank guarantee is the debtor of the main obligation, at whose request the guarantor issues a bank guarantee. The principal can be any person.

The beneficiary of a bank guarantee is the entrepreneur's creditor under the main obligation, in whose favor the guarantor issues the bank guarantee.

The role of the beneficiary can be any individual or, as well as government, tax and customs authorities.

Please note that, according to Part 2 of Article 368 of the Civil Code of the Russian Federation, the issuance of a bank guarantee is a paid service of the guarantor bank.

In this regard, the credit institution charges a bank fee for issuing a bank guarantee. On practice:

The remuneration may be paid in the form of a fixed payment or as a percentage of the amount of the guarantee issued;

The remuneration may be paid in a lump sum or in installments depending on the duration of the guarantee;

The amount of such remuneration is 1 - 10% of the security amount.

Securing a probable obligation

A bank guarantee is a document issued by a bank and addressed to a specific creditor of the organization.

According to a bank guarantee, the bank undertakes to repay the company's possible debt to the creditor at the request of the creditor upon the occurrence of specifically defined conditions.

In this case, the bank undertakes to pay the lender a fixed, pre-agreed amount.

The peculiarity of such an agreement is that at the time of issuing the bank guarantee, the organization itself does not have an obligation to the creditor, that is, the creditor is potential.

Moreover, in the future, debt for purchased goods, works or services may not appear.

Advantages of a bank guarantee

The main advantages of a bank guarantee are:

low cost of a bank guarantee;

the ability to effectively resolve the issue of paying obligations without releasing funds from circulation or directly borrowing them from credit institutions.

In addition, a bank guarantee can be considered as an additional incentive to fulfill accepted obligations under the contract, that is, to supply goods, perform work or provide a service.

Agreement on the issuance of a bank guarantee and the Civil Code

From an analysis of the provisions of Chapter 23 of the Civil Code of the Russian Federation, it follows that there is no obligation to enter into an agreement between the principal and the guarantor.

At the same time, banks that wish to more specifically describe their relationship with the principal reflect the procedure for interaction between the principal and the guarantor in a special contract-contract on the issuance of a bank guarantee.

The subject of such an agreement is the issuance of a bank guarantee.

In this case, such an agreement on the issuance of a bank guarantee may stipulate the following conditions:

rights and obligations of the bank and the principal;

deadlines for providing bank guarantees;

the main conditions under which such bank guarantees will be issued;

calculation of bank remuneration;

reimbursement of bank expenses incurred;

type of contract security;

liability of the parties under the contract;

settlement of disputes;

other provisions.

Accounting of bank guarantees

The cost of a bank guarantee is included in the asset during the purchase or creation of which the bank guarantee was acquired.

Transactions for the purchase of a bank guarantee are reflected in accounting as follows:

The amount of remuneration to the bank for issuing the guarantee was transferred;

The guarantee of payment received from the bank under a contract or delivery agreement is included in the cost of the asset.

Such postings are made when forming the cost of all inventory items.

Value added tax (VAT)

Services for providing a bank guarantee are related to banking operations.

Moreover, the cost of such a service is not subject to VAT (see clause 8, part 1, article 5 of the Federal Law of December 2, 1990 N 395-1 “On Banks and banking", paragraph 3, paragraph 3, article 149 of the Tax Code of the Russian Federation, letter of the Federal Tax Service of Russia dated May 17, 2005 N MM-6-03/404@).

Thus, VAT is not charged on the bank’s remuneration for issuing a guarantee to the organization by the credit institution.

Income tax

The issuance of bank guarantees relates to banking operations (clause 8 of Article 5 of the Federal Law of December 2, 1990 N 395-1 “On Banks and Banking Activities”).

In this case, the costs associated with paying for bank services can be taken into account either:

a) as part of other expenses associated with production and sales (clause 25, clause 1, article 264 of the Tax Code of the Russian Federation) or

b) as part of non-operating expenses as costs of carrying out activities not directly related to production and (or) sales (clause 15, clause 1, article 265 of the Tax Code of the Russian Federation).

Thus, the organization has the right to independently determine which group it will include the costs of paying for the bank’s services for providing a bank guarantee in accordance with clause 4 of Art. 252 of the Tax Code of the Russian Federation.

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In accordance with the requirements of the Federal Law of July 27, 2006 No. 152-FZ “On Personal Data,” I give my consent to the Public Joint Stock Company Bank Financial Corporation Otkritie (General License for Banking Operations No. 2209, issued by the Bank of Russia on November 24, 2014 city, location: 115114, Moscow, Letnikovskaya str., 2, building 4) and QIWI Bank ( Joint-Stock Company) (General license of the Bank of Russia No. 2241, issued by the Bank of Russia dated January 22, 2015, location: 117648, Moscow, microdistrict Chertanovo Severnoe, 1A, building 1) (hereinafter referred to as the Banks) for processing, collection , recording, systematization, accumulation, storage, clarification, updating, modification, extraction, use, distribution, transfer, depersonalization, blocking and deletion of my personal data, performed with or without the use of automation tools.

In accordance with Federal Law No. 126-FZ “On Communications” dated 07/07/2003, I give my consent to the telecom operator with whom I have concluded an agreement for the provision of communication services in relation to the mobile number specified by me, to provide Banks with information about the subscriber and provided to me communication services under an agreement for the provision of communication services concluded with such a telecom operator.

I agree to the processing of my personal data, including last name, first name, patronymic, date and place of birth, identity document data, data on citizenship, address, family, social, property status, education, profession, income, place of work, contact details telephone and other personal information that can be used for the purpose of promoting the services of Banks, joint services of Banks and third parties.

This consent is valid from the moment the application is sent until the Banks receive a written application to revoke this consent to the processing of personal data.

By leaving my details in the application I submit and providing additional data and documents by phone, fax or email, I confirm and acknowledge that I have read the stated agreement and give my unconditional consent without reservations or restrictions.

Acceptance of the rules for booking accounts

The service for reserving a current account number is provided to legal entities and individual entrepreneurs(hereinafter referred to as clients) who filled out an application on the website or called the bank at phone number 8 800 2000 024.

The bank does not make payments to the reserved account. Money transferred to the client using the reserved account details is stored in the bank for 5 working days. If the account is not opened, after 5 business days the money will be returned to the sender. The bank is not responsible for losses incurred by the client if, on the date of return of money to the sender, the sender’s account is closed or his details have changed. If within 5 working days from the moment the money is received in the reserved account, it is opened, the money will be transferred to the open account within the time limits established by the current legislation of the Russian Federation.

The bank may refuse to reserve an account number unilaterally without giving a reason. The bank may refuse to open a reserved account in cases established by the bank’s internal documents in accordance with the current legislation of the Russian Federation.

A bank guarantee is a type of security for obligations confirmed by the bank (“guarantor”) in favor of the client (“principal”) to fulfill obligations to the creditor (“beneficiary”).

There are various types of guarantees: tender, payment, customs, tax, contract performance, credit line. Legislative regulation of operations is carried out on the basis of Art. 368 part 1 of the Civil Code of the Russian Federation of November 30, 1994 (51-FZ). A bank guarantee helps develop a business and opens up new prospects for legal entities.

Return of bank guarantee

The bank guarantee is returned:

• when the beneficiary waives his rights. This situation may arise upon termination of the contract, if customs obligations have not arisen;
• upon liquidation of the guarantor as a legal entity, upon revocation of the license by the Central Bank of the Russian Federation;
• upon expiration of the contract;
• upon payment of the full amount to the beneficiary;
• expiration of the warranty period;
• when paying compensation.

Execution of a bank guarantee

Execution of a bank guarantee is understood as the fulfillment of the guarantor’s obligations stipulated by the contract upon the occurrence of the cases described in it. The execution of the bank guarantee is entrusted to the bank, which subsequently independently returns the funds from the unscrupulous principal.

The process of executing a bank guarantee consists of several stages:

• drawing up a claim, submitting it to a financial institution and notifying the principal of the claim received by the guarantor;
• consideration of the application and verification of documents;
• making a decision and notifying all interested parties about it.

Providing a bank guarantee

The bank guarantee is provided on the basis of Article 368 of the Civil Code of the Russian Federation. It is entered after submitting an application for a guarantee and the bank makes a positive decision on the application. The subject of the security is specified in the contract. This could be: a pledge, a deposit, a bill of exchange, guarantees from another financial institution, which the principal transfers to the bank. The amount of security must exceed the amount of the guarantee. The credit authority may require confirmation of the value of the collateral, for example, an expert assessment. Usually interest rates for a guarantee without collateral is higher than for the same service with a pledge or deposit.

Register of bank guarantees

The register of bank guarantees contains information about all issued guarantees. This requirement is fulfilled within 24 hours from the date of conclusion of the contract. Only then will the obligation come into force. The purposes of registration are the ability to verify the authenticity of documents and reduce budget losses from false guarantees.

The following information is entered into the register of banking transactions:

• name of the bank, its address TIN;
• the amount of money payable by the guarantor in the event of default by the principal;
• name, tax identification number and address of the client of the financial institution by the principal;
• a copy of the guarantee agreement;
• duration of obligations.

Bank guarantee conditions

The terms of a bank guarantee are determined by its type and are described by an agreement between the principal and the guarantor. Depending on the procedure for paying the beneficiary funds, a distinction is made between a guarantee on first demand (unconditional) and a conditional guarantee, which requires documentary evidence of the principal’s failure to fulfill his obligations. For example, failure to fulfill obligations can be considered improper performance of a contract, non-return of an advance payment or non-payment of customs duties, or failure to fulfill obligations by a tender participant.

Limit on issuance of bank guarantees

Any company can receive a limit on the issuance of bank guarantees (BG) subject to a number of rules. Filling out an application is beneficial for organizations that often take part in tender competitions. Obtaining a limit allows you to quickly receive a bank guarantee for several years.

Companies with the most stable economic indicators have the greatest chance of receiving the limit. Experience in fulfilling obligations will be a plus for the organization. Banks carefully check the level of solvency of the borrower.

Main types of bank guarantees

A guarantee is a way to ensure the fulfillment of debt obligations. By issuing a guarantee, the bank assumes the corresponding risks. There are main types of bank guarantees: payment, performance, return of advance, bill of lading, conditional, guarantees on first demand, customs.

Types of BG differ in terms of implementation. Payment guarantee is an agreement by the bank to make payments in the event of non-payment of the debt by the borrower. Guarantee on first demand - the obligation of the borrower to return the borrowed amount after the first written application of the creditor.

How to get a bank guarantee?

You can find out how to obtain a bank guarantee from your bank or broker. Clients who turn to a broker for help are guaranteed to receive permission, however, the cost of agent services is higher than at a bank. By cooperating with the bank, the borrower receives less risk.

It is necessary to prepare a package of documents. In cooperation with a broker, the client delegates the execution of the application to the agent. Consideration of the application by the bank takes 2-3 weeks; the broker is ready to provide the bookmaker within a few days.

What does a bank guarantee look like?

In recent years, the problem of forgery of bank documents has become more acute, so the client must thoroughly know what a bank guarantee looks like. The document is printed on company bank letterhead. The corporation issuing the guarantee must be on the list of the Ministry of Finance.

The document contains the standard text of the agreement, details of the borrower and the bank. Most banks print forms with watermarks. When contacting an intermediary for a guarantee, you should check all levels of security of the form.

Who issues bank guarantees?

When choosing a broker to apply for a loan, you should clarify in advance who issues bank guarantees and under what conditions. An intermediary at any level turns to the bank for help, since only institutions registered with the Ministry of Finance have the right to issue guarantees. The right to issue relevant documents is also reserved for insurance companies.

Today, more than 300 banks in the Russian Federation are authorized to issue financial statements, and the list is expanding. More often, clients turn to large banks: Sberbank, VTB, Otkritie. Small financial institutions offer agreements on more favorable terms.

Bank commission and factors influencing the cost of a bank guarantee

Bank commissions and factors influencing the cost of a bank guarantee vary depending on financial institutions and in the time period. The size of the government contract, the presence of collateral, the reliability of the borrower - everything is taken into account when compiling the price of the guarantee. The bank commission is 1.5-5% of the size of the bank account.

The rate if there is collateral in the form of property will be 2.5% of the amount of the guarantee, but not less than 10,000 rubles. With a deposit, the client can count on 1.5%. In the absence of collateral and the ability to open a deposit, the bank provides a rate of 4%.

Documents for obtaining a bank guarantee

When contacting a bank or broker directly, you must collect information yourself. The application, questionnaire, analytical tables are compiled at the bank branch. It is also necessary to prepare constituent documents to obtain a bank guarantee.

The following must be provided: accounting records, tender documentation, a copy of the contract, a draft text of the guarantee, statements of current accounts for the last 6 months. The bank requests copies of passports of the persons responsible for signing the agreement. Banks have the right to require additional certificates.

Advice from Sravni.ru: When concluding a bank guarantee agreement, it is worth consulting with specialists who can check the terms of the guarantee.