Guarantee | Luminor

Guarantee

Benefit from the bank guarantees to participate in tenders, certify your ability to provide services or pay for the goods as well as make international trade transactions with confidence!
New: Financial limits with Altum guarantee for Small and Medium enterprises

Benefits

Simple and fast guarantee issuance if secured by money on account or deposit
Guarantees are governed by international rules and therefore widely used for business transactions all over the world
Guarantees in accordance with company needs and stage of the cooperation project – tender, advance payment, performance, warranty guarantee, customs debt or other tax payment guarantees

How to obtain a guarantee?

Agree with the partner on the guarantee. Enter into agreement or get tender regulations which require submission of the guarantee

Submit the application. Fill out a guarantee application and submit together with the required documents.

Execute the security or line. Secure the money deposit or enter into a credit line agreement to be used for guarantees and security agreements.

Obtain the guarantee, submit it to your partner, or we will send it to your partner bank following your instructions.

Required documents

Application to Issue Guarantee
Passport or eID card of the company’s representative
Information on the transaction, agreement or tender

Unless the security is money deposited on the account or deposit, the following documents should be submitted in addition:

Financial reports for the last two years and operational results (including specification of debtor and creditor accounts)
Valuation of the collateral

Useful links

NB!
Guarantee is governed by the “Uniform Rules for Demand Guarantees” (publication No. 758 of the International Chamber of Commerce, 2010 revision), unless otherwise stipulated in the guarantee.