Types of bank guarantee
A bank guarantee refers to a type of credit whereby the bank undertakes to act on your behalf and pay your counterparty a certain amount of money If a contract is not fulfilled. A bank guarantee provides your counterparty with the necessary financial security.
Whatever the type of bank guarantee you need, KBC Commercial Banking has it.
You’ll find the bank guarantee the suits your particular purposes in the list below:
Covers your performance obligations towards a government body or state-owned company in the context of a public tender.
Covers the proper performance of the obligations set out in the underlying commercial contract, such as the timely completion of the works and the performance of the contract pursuant to its terms and conditions. If your counterparty is a government agency or state-owned company, choose the guarantee for a government contract.
Covers your obligations as a tenant to the landlord, as set out in the underlying lease.
Covers the pro rata repayment of the advance you received from the beneficiary if you fail to honour all or part of the contract you entered into.
Covers the payment of compensation to the beneficiary if you fail to deliver or only partially deliver goods or services or fail to perform other obligations in the underlying contract.
Covers your obligations, as principal debtor and notifier, to OVAM for transboundary shipments of waste during a specific period.
Covers your obligations, as principal debtor and notifier, to ‘Service Public de Wallonie’ (SPW) for transboundary shipments of waste during a specific period.
Covers your obligations, as principal debtor and notifier, to the Netherlands for transboundary shipments of waste during a specific period.
Covers your payment obligations after performing the commercial contract, as set out in the underlying agreement.
Covers payment obligations to Customs and Excise:
- Comprehensive guarantee for community transit
- A personal guarantee
- Suspension rule
- A ‘deed of guarantee plus’
- Fiscal agent
- Any other customs-related guarantee
Covers participation in tenders abroad and, exceptionally, in Belgium too if the tender is not covered by the Public Procurement Act.
Covers the transfer of amounts collected to the National Lottery.
Covers the buyer's failure to retain a certain percentage of payments as security for the proper performance of the contract.
Covers the proper performance of the warranty obligations, as set out in the underlying agreement.
Required for the purpose of obtaining a transport licence for national and/or Community road haulage.
Required for the purpose of obtaining a transport licence for national and/or Community road passenger transport.
Covers claims arising from the performance of works covered by the transport commissioner's licence.
Covers very specifically the repayment of loans taken out at another financial institution.
Covers your obligations, as an adequately licensed contractor, towards the buyer to complete a dwelling pending or under construction, as set out in the Breyne Act (Act of 9 July 1971).
KBC Commercial Banking provides bank guarantees that are tailored to your needs. To find out more, feel free to contact your relationship manager.