The Bank Guarantee is an irrevocable commitment by the Bank to pay a pre-determined amount if the beneficiary under a guarantee has stated that certain contractual obligations have not been fulfilled.

Central Cooperative Bank AD offers to its customers a framework contract for bank guarantees, whereby within the agreed limits and deadlines and at the request of the customer, the Bank issues a number of different guarantees depending on the relevant business needs.

Types of bank guarantees issued by the Bank:

The Bank issues the following bank guarantees:

  • performance bond;
  • tender participation guarantees;
  • advance payment bond;
  • payment bond;
  • other types of bank guarantees.

The Bank issues bank guarantees both on the basis of individual orders of its customer and on the basis of an executed framework contract within a pre-agreed limit.

Fees and commissions:

For the issuance of any bank guarantee, the originator pays the fees stipulated in the CCB AD Tariff of Fees and Commissions.

Collateral:

Assets of the borrower or third parties, formed according to the statutory procedure, are accepted as collateral for issuing bank guarantees. The assets that can be accepted as collateral include:

  • Cash;
  • Real estate;
  • Movable property;
  • Other.