Guarantees
In an increasingly challenging business environment, a bank guarantee is an effective way of securing performance and payment. A company is often required to submit a Bank Guarantee while entering into a large-scale business transaction or carrying out a high-value project or receiving advance payment for working on a project. We provide world-class bank guarantee services for both domestic as well as international markets and in this way also assure your clients of your strong commitment. Some of the variants of guarantees offered include:
- Performance Guarantees
- Financial Guarantees
- Bid Bond Guarantees
- Advance Payment Guarantees
- Deferred Payment Guarantees
- Standby Letter of Credit
e-Bank Guarantee (e-BG)
e-BG product enables the beneficiary to have a unique repository of all the advised BGs in their favor.
Key features include
Benefits
Client needs to submit a one-page request letter for availing the given product offering.
Buyers credit backed by SBLC issued by ICICI Bank
Pursuant to the discontinuation of issuance of LoU/LuT by RBI for availing Buyers credit, lender banks are permitted to take exposure in the form of direct buyers credit (BC) by way of an unsecured facility. However, this is not a cost effective solution for borrowers. Also, it exposes the BC lenders to higher credit risk. Accordingly, to facilitate the working capital requirement of borrowers as well as to secure the buyers credit facility, ICICI Bank offers issuance of BG/SBLC for buyers credit for imports into India.
The BG/SBLC can be issued in favour of ICICI Bank Overseas Branches/other foreign Banks/overseas branches of Indian Banks for extending buyers credit to borrowers.
