Raiffeisen Bank 

[ ↓ vstup na účet ↓ ] [ ↓ k menu ↓ ] [ ↓ k rychlé navigaci ↓ ] [ ↓ k vedlejší navigaci ↓ ]

Infoline: 800 900 900

Warranty Guarantee

A warranty guarantee, including for the repair of guarantee defects, is a non-payment guarantee and an irrevocable obligation of the bank to pay a monetary amount up to a set amount in the event that the applicant does not meet its contractual obligations during a guarantee term and does not correct defects arising during the guarantee term.

Benefits

  • The guarantee represents quality security for the obligation of a supplier (applicant), and the customer (guarantee's beneficiary) obtains certainty that it will receive performance from Raiffeisenbank under the guarantee in the event that the supplier does not perform its contractual obligations during the guarantee tenor and if the recipient (beneficiary) asks for performance in accordance with the conditions of the guarantee.
  • It strengthens the trustworthiness of the supplier (applicant) in relation to the customer (beneficiary).
A warranty guarantee, including for the repair of guarantee defects, is a significant part of contractual conditions.

Issuance of warranty guarantee and performance under guarantee

  • Raiffeisenbank issues a warranty guarantee, including for repair of guarantee defects, based on the client’s (supplier’s) application up to the amount and with a validity period in accordance with the terms and conditions of the contract between Raiffeisenbank and the client.
  • Together with a request for the issuance of the guarantee, the client presents documents containing the conditions and requirements under which the guarantee should be issued.
  • In the contract on issuance of a guarantee or in the loan contract, 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 under the guarantee 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 for a guarantee will be communicated by Raiffeisenbank to the client in connection with its check on the client’s good standing.



Additional navigation

[ ↑ k obsahu ↑ ]