A banking guarantee is an irrevocable obligation of the guaranteeing bank to pay the specified amount in case a client does not perform a specified action and the conditions set forth in the guarantee are met. The guarantee is issued by request and at the client's expense. To receive the payment a beneficiary should present a written request and document specified in the guarantee terms.
A banking guarantee is not a means of settlement and is used just to guarantee the obligations of one party to the other. The guarantee is a separate obligation and does not depend on relations set in the main agreement of the parties. EVROFINANCE MOSNARBANK issues for its clients various types of guarantees/counter guarantees used in international banking business.
The bank issues guarantees for domestic deals of its clients as well.
EVROFINANCE MOSNARBANK also performs other guarantee operations:
EVROFINANCE MOSNARBANK is also authorized by the State Customs Committee to issue guarantees to customs bodies.
EVROFINANCE MOSNARBANK complies with the international banking customs and practices, the effective edition of Uniform Rules for Demand Guarantees (published by the International Chamber of Commerce) and the effective Russian law.
The bank provides any kind of consulting related to using guarantees in commercial deals. Upon clients' request, EVROFINANCE MOSNARBANK specialists analyze the terms of contracts that envisage issuance of guarantees and also draft the conditions of guarantees.