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  1. Public Institutions
  2. Financing
  3. Trade Finance
  4. Bank Guarantees
  5. Advising of Bank Guarantees

Advising of Bank Guarantees

UniCredit Bulbank in the role of advising bank receives a bank guarantee issued by another bank – Guarantor and advises it to the client - beneficiary of the guarantee, without any commitment. The role of the advising bank is limited to confirmation of its authenticity to the client - beneficiary under the guarantee and transmitting requests for payment under the L/G made by the beneficiary.

Advising of Bank Guarantees

Advantages

  • Confirmation of the authenticity of the received guarantee

  • Expert advice in case of claims under the guarantee

Important: When negotiating the receipt of a bank guarantee the Beneficiary should be aware of the reliability of the guarantor issuing the guarantee.

Bank guarantees advising is regulated in accordance with the Uniform Rules for Demand Guarantees of the International Chamber of Commerce, Paris,  if the guarantee explicitly states that it is subject to them.

Local guarantees are usually issued on paper and sent directly to the beneficiary rather than to the servicing bank. For convenience and reduction the risk, it is recommended that these guarantees are administered in UniCredit Bulbank.

Frequently Asked Questions

You could at a preliminary stage consult with the experts of UniCredit Bulbank. A possibility is to ask your trading partner to order issuance of a counter-guarantee in favor of UniCredit Bulbank, based on which the bank will issue a guarantee in your favor upon existence of the necessary risk limits.

In case of breach of the contractual obligations, as stipulated in the L/G.

No.

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Bulbank Online Trade Finance Module

Trade Finance module as a part of Bulbank Online is a new functionality for accepting corporate clients’ orders and processing trade finance deals.

The new platform has been developed to ease and speed up the communication, processing and access to real-time information regarding Bank guarantees, Letters of credit and Documentary collections by using the advantages of the online tool.

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