Bank warranty – is the obligation of the bank for payment of certain amount to your business partner, in case your business partner sends demand to the bank. Bank warranty ensures proper fulfillment of obligations by the buyer before the seller. Bank warranty is formalized on the basis of letter of the same title.
Rabitabank offers different types of warranties:
- payment warranty;
- implementation warranty;
- warranty for repayment of advance payment;
- warranty for fulfillment of agreement;
- tender warranty;
- other types of warranty.
Rabitabank renders the following services on warranties:
- Opening, approval and advise of warranties;
- Consulting services while working with warranties;
- Approval of warranties by famous correspondent banks;
- Opening warranties at the expense of clients.
Rate scale on warranties:
|1.||by 100% liquid warranty||0.2% (one-off)|
|2.||up to 3 months||2% (one-off)|
|3.||more than 3 months||3% (annual)|
|4.||increase of period and amount of warranty||under agreement|
|5.||change of terms (increaseof amount is excluded)||AZN 100/ USD 50|
|6.||advising of warranty||under agreement min 100 USD (while issuingbeyond the republic)