Bank guarantee - a written commitment of the Bank (warranter) at the request of another person (obligor or instructing party) on his own behalf to fulfill payment obligations to a beneficiary   according to warranty terms;

The Bank issues bank guarantees at the request of legal entities and individual entrepreneurs in Belarusian rubles and foreign currency.

Depending on the secured obligations JSC Belagroprombank provides various types of bank guarantees:
 

• payment guarantee - to secure payment obligations of delivered goods, performed services and works;
• guarantee of refund - to secure advance payment listed supplier of goods (works, services) in case of breach of obligations under the contract;
• performance guarantee - to secure contract obligations on delivery of goods, performed services and works;
• tender guarantee - in favor of the organizer of the tender (beneficiary) to secure obligations of tender participant (principal) for signing agreement for the supply of goods, services, work performance under the conditions mentioned in tender offer of the participant in case of tender win;
• guarantee of loans - to secure obligations of a borrower under loan agreement to a moneylender;
• guarantee of payment of customs duties (customs guarantee)* - in favor of the customs authorities to secure obligations of obligor on payments of customs duties;
• guarantee in favor of the Belarusian Association of International Road Carriers "BAMAP"** – to a carrier for submission to the Association of International Road Carriers (BAMAP);
• other bank guarantees.
   

* 12.08.2014 – 11.08.2019 JSC Belagroprombank is a member of registry of banks and non-bank financial institutions acknowledged by customs bodies as warranters of customs payments
** It is meant to be used bank guarantee form created by the Association of International Road Carriers “BAMAP” for the registration of the mentioned guarantee of JSC Belagroprombank.


To consider the possibility of providing the guarantee the following documents must submit:

• application for a bank guarantee;
• customer application form;
• copy of the underlying contract (agreement, other document) containing an obligation, the performance of which should be provided by a bank guarantee;
• documents to ensure fulfillment of obligations of instructing party (customer) issued by the bank guarantee;
• accounting and financial reporting;
• documents confirming the powers of the authorized representative of instructing party (customer);
• information on business entities connected with an instructing party;
• information on bank accounts, receipt to account, bank account list, other information on account activities in banks;
• information on active banking transactions debts in banks;
• approval to receive credit report;
• approval to receive information under the Information support of the banking security
• other documents at the discretion of the bank, describing the financing and operating activities of the instructing party (customer).

The warranty period is based on the period of performance of obligations under the agreement, secured by the bank.
Bank guarantee issuance fee varies according to its type and amount and is charged in terms of Fee Guide of JSC Belagroprombank