- Financial Guarantee
- Performance Guarantee
- Bid Bond Guarantee
- Advance Payment Guarantee
- Deferred Payment Guarantee
- Cost of issuance - BG Issuance commission
- Cost of the amendment and Claim processing
- Other related costs, such as SWIFT and Courier charges
- Collateral requirement and interest rates offered on the Fixed Deposit as collateral
- Ease of documentation and faster issuance time
- Acceptance of Issued BGs by Corporates and Govt. agencies
- Attractive interest rate on fixed deposits
- Competitive pricing for the issuing and revision of bank guarantees
- Trade desk manages straightforward BG documentation for all branches
- Government entities and large corporations frequently accept RBL Bank Guarantees
- Join overseas bidding via our correspondent bank network
- Dedicated BG Desk for prompt transaction execution
There are no fees associated with processing bank guarantee claims.
- Performance BG: When a customer breaches a non-financial contractual commitment, RBL Bank gives performance guarantees to ensure payment.
- Financial BG: If a customer doesn't follow through on the terms they have agreed to, RBL Bank will provide a financial guarantee to ensure repayment of the debt.
- Bid Bond BG: RBL Bank creates bid bonds to ensure that, if our client's bid is approved, they will be able to pay their obligations under the contract.
- Advance Payment Guarantees: If a seller does not follow through on its promises after receiving advance payments, we guarantee that buyers' funds will be reimbursed.
Our solutions, however, can be altered to meet your needs. Please reach out to your relationship manager or stop by the neighbourhood branch. Locate your nearby branch here
Yes, we do issue BG backed by FD. However, the percentage of collateral differs between domestic and foreign bank guarantees. In the context of working capital finance, RBL Bank also gives bank guarantees against collateral. Please stop by the closest branch or get in touch with your relationship manager if you want further information about the collateral percentage and procedure.
The following documents must be submitted to obtain a bank guarantee:
- Request Letter and Counter Indemnity cum Memorandum relating to charge over fixed deposit duly stamped (Franking as per respective State Stamp Act)
- Bank Guarantee text in MS Word document
- Underlying documents such as contract/agreement/invoice
- Board Resolution for Private Limited/Limited Company
Partnership Consent letter signed by all Partners along with Partnership Deed
Trust Resolution along with Trust Deed for Trust
Managing Committee Resolution along with Bye-laws for Society
Assuming all documentation is in order, the issuance of a bank guarantee takes about 4-6 hours to complete.