Bank guarantee

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Guarantee is a written undertaking by the Bank (Guarantor) on the application of another person (Principal) to pay to the creditor of the Principal (Beneficiary) in accordance with the terms of the obligation undertaken by the Guarantor, upon presentation by the Beneficiary of a written request for such payment.

Guarantees provided by the Bank are divided into the following types:

guarantee for deferral of payment of customs duties;
guarantee of payment;
advance payment guarantee;
guarantee of the risk of non-repayment of credit received in another bank;
guarantee of security of the tender application for the tender offer;
guarantee of performance of the contract/agreement.

The Bank performs the following types of transactions and services on the securities market:

Validity period - according to the type of Guarantee received;
Interest rate - by agreement; One-time management fee – according to the bank's tariffs;
Early closure of guarantee is allowed, fines and commissions for early closure are not collected.
Collateral - real estate, motor transport, deposits, special equipment and other liquid property in accordance with the Legislation;
Mixed collateral is applicacle;
Collateral is accepted for a total amount of 125% of the amount of a letter of credit with a discount. Discount size depends on the type of property, its value;

How to get a bank guarantee:

1	Consultation Select a branch of the Bank convenient for you in your location and make an appointment with a Bank’s specialist. During the meeting, a Bank specialist will familiarize you with the list of documents required for obtaining a loan, advise on their form and content and answer all your questions.
2	Collection of documents and execution of a loan application Collect a complete package of required documents. At the meeting, together with a Bank specialist, fill out a loan application for a loan and submit a full package of the required documents. The Bank’s specialist will register a loan application and provide you with a certificate confirming that your loan application has been registered and the submitted package of documents has been accepted for consideration according to the established procedure.
3	Consideration of a loan application and decision-making by the Bank according to the established procedure The period from the date of receiving by the Bank of a loan application for a loan for fixed capital assets with the attachment of a full package of required documents and the date of the Bank’s decision on the loan application will not exceed the period established by the legislation of the Republic of Uzbekistan. The term for considering a loan application and a decision-making depends on the completeness of the set of documents provided by you. Show the Bank specialist your company and property offered as collateral.
4	Conclusion of a loan agreement and registration of collateral In case of a favorable decision of the Bank, you shall sign a loan agreement and arrange loan collateral in compliance with the established procedure.
5	Getting a loan The loan is issued by opening a separate loan account and payment of your payment orders from this account by the bank transfer.