Raiffeisen Bank 

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Infoline: 800 900 900

Credit Guarantee

A credit guarantee is a payment guarantee and an irrevocable obligation of the bank to make a payment up to a monetary amount determined in advance in the event that the debtor (applicant) does not perform its payment obligations resulting from a credit agreement concluded with the beneficiary. It can be issued not only to cover the principal of a loan, but also for all payment obligations under a credit agreement, i.e. including interest and other charges.

Benefits

  • The guarantee is quality security for an obligation of the applicant, and its beneficiary obtains certainty that it will receive performance from Raiffeisenbank under the guarantee in the event that the applicant does not meet its payment obligations under a credit agreement and if the beneficiary asks for performance, in accordance with the conditions of the guarantee.
  • The guarantee strengthens the trustworthiness of the applicant (debtor) in relation to the beneficiary.
A credit guarantee enables the principal, as the debtor, to obtain the necessary amount of credit from a financial institution when it does not have another suitable way of securing the credit.

Issuance of credit guarantee and performance under guarantee

  • Raiffeisenbank issues the credit guarantee based on the client’s application up to the amount and with a tenor in accordance with the terms and conditions of the contract between Raiffeisenbank and the client (applicant).
  • Together with a request for the issuance of the guarantee, the client submits documents containing the conditions and requirements under which the guarantee should be issued.
  • In the contract on issuance of the guarantee or in the credit agreement, the client expresses its agreement that if Raiffeisenbank, in accordance with the conditions of the guarantee, is asked for performance under the guarantee, it will provide irrevocable performance in favour of the guarantee’s beneficiary.
  • With regard to the fact that a guarantee represents an irrevocable obligation, Raiffeisenbank cannot change the conditions of the guarantee in a manner unfavourable to the beneficiary or cancel the guarantee without the consent of the guarantee’s beneficiary.
  • Raiffeisenbank provides performance under the guarantee only in the event it receives an invitation to perform submitted by the guarantee’s beneficiary in accordance with the terms and conditions of the guarantee.

Collateral

The requirements for collateral will be communicated by Raiffeisenbank to the client in connection with its check on the client’s good standing.



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