Guarantees and warranties

Guarantee - a written obligation provided by a bank (guarantor) at the request of another person (principal) to pay the principal creditor (beneficiary) in accordance with the terms of the obligation given by the guarantor, a monetary amount upon presentation by the beneficiary of a written demand for its payment.

Guarantees are issued for the following purposes:

• Payment guarantee;

• Advance Payment Guarantee;

• Performance Guarantee;

• Warranty on deferred payment of mandatory customs payments;

• Guarantee for participation in tenders;

• other purposes not prohibited by law.

Terms of Service:

• Interest rate - in accordance with the bank's tariffs;

• Collateral under guarantee is a pledge of liquid property satisfying the Bank (real estate, equipment, vehicles, cash) in the amount of not less than 125% of the guarantee amount.

To obtain a guarantee, the principal shall submit to the Bank the following documents:

• Warranty application;

• Cash receipts (cash flow), which include entire period of use of the guarantee, are projected binary business plan or accounts;

• Financial statements of the borrower for the reporting periods (accounting balance sheet and financial result statement);
• Warranty support documents.

If necessary, the Bank may request additional documents relating to the project.