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Home > Corporate > Govt Business > Bank Guarantee

Issuance of Bank Guarantee - IDBI Bank- Bank Guarantee

Bank Guarantee is an instrument issued by the Bank in which the Bank agrees to stand guarantee against the non-performance of some action/performance of a party.  The quantum of guarantee is called the ‘guarantee amount’.  The guarantee is issued upon receipt of a request from ‘applicant’ for some purpose/transaction in favour of a ‘Beneficiary’. The ‘issuing bank’ will pay the guarantee amount to the ‘beneficiary’ of the guarantee upon receipt of the ‘claim’ from the beneficiary.  This results in ‘invocation’ of the Guarantee. IDBI Bank issues the entire range of Bank Guarantees, namely,

      Bullet Bid Bond Guarantee
      Bullet Advance payment Guarantee
      Bullet Guaranty for warranty obligation
      Bullet Payment Guarantee/Loan Guarantee
      Bullet Performance Guarantee
      Bullet Deferred payment Guarantee
      Bullet Shipping Guarantee
      Bullet Trade Credit Guarantee
      Bullet Standby LC

Bank issues Guarantee favoring beneficiaries abroad either directly or through our correspondent banks across the continents. Similarly, IDBI Bank also issues guarantees favoring resident beneficiaries on behalf of our overseas branches / correspondents.

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