Guarantee / Surety

Guarantee / Surety

You need to guarantee a payment, execute a service or deliver goods? The bank guarantee or surety gives you the safety you need for these types of transactions.

BCGE guarantees the proper execution of the service agreed with a third party
The possibility of benefiting from the bank's recognised creditworthiness
The ability to conduct transactions more easily 
Protection of the creditor against a debtor's insolvency

The essentials

Bank guarantee: cover your payments or your services

A bank guarantee is the irrevocable commitment by a bank, at the first request of the beneficiary, to pay a sum of money in the event that a third party fails to fulfil its obligation to provide a service or pay. The guarantee is the instrument to use, especially in the context of international commercial relations.

Surety

A surety is a commitment for a defined amount by which the bank undertakes in favour of the creditor to guarantee payment of the debt contracted by the debtor subject to a number of specific provisions.



Further information

Conditions

For a guarantee or a surety to be issued, the principal must at least have or create a relationship with the BCGE.
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