state contract to provide the most popular method today is a bank guarantee.Such a document could protect the part of the contingent liabilities.We can say that the bank guarantees - a shield behind which can hide the customer and performer.The procedure for obtaining this document is very familiar to all participants of the various tenders.But what about those who deal with him for the first time?
What lies beneath this term?
bank guarantee - an insurance customers in the event of unfair performance of obligations by the contractor.In other words, the existence of such a document may indicate serious intentions of the artist and his ability to pay.Customer can be no doubt that he needed work will be executed on time and properly.A bank guarantee of performance forces the bank to pay a certain amount specified in the contract, in the case of bad faith performance of the work by the company that won the tender, or in the case of unforeseen circumstances.Banking institution becomes a guarantor, and that is why public contracts concluded at the vast sums required from the performer is this type of financial support.
State bank guarantee - it is a strong argument for participation in the tender.They exclude the possibility of conflicts on both sides (both customer and contractor).The term of the bank guarantee is usually prescribed for the entire period of work.It shows both sides, how long this document will have no legal weight and protect them from unforeseen situations.
guarantee is not possible to withdraw, that is why it is so important to the government customer.The bank that issued the document, simply has no right to withdraw his or change its terms and conditions unilaterally.As a rule, all the bank guarantees - are documents that do not require software that is issued without pledge any funds or securities.The Agreement shall enter into force upon its issuance.The most popular form, which require government customers as security is to guarantee performance of contractual obligations.
How to get?
To obtain a bank guarantee, you must first choose a bank guarantor and properly execute all documents.Different institutions are different ways to design and requirements for company-executor.It is therefore necessary to carefully read them to get a bank guarantee as soon as possible.When properly assembled a package of documents, which list is very long, the issuance of guarantees to the Executive arm is usually carried out within one to two days.You can also contact a professional firms specializing in this type of security.They will help to collect documents and check that you did not go twice to pester the guarantor bank.Moreover, some offices will be able to provide not only services for the collection and verification of documents, but also to speed up the decision-making bank.
