Bank guarantees and standby LCs
Engage in international trade confidently with ING’s bank guarantee and standby letter of credits (LC) solutions. In the complex world of global commerce, ING steps in and provides financial instruments that guarantee an unconditional commitment to pay the beneficiary on demand in case of non-performance or non-delivery. Whether you use a standard or customised bank guarantee, you benefit from the assurance and security.
Your transactions are backed by a reliable financial commitment
Your business partners are assured of payment
You can negotiate the wording yourself
Bank guarantees that suit your exact trade needs
Rental guarantee
A rental guarantee offers the lessors assurance that they will receive the amounts due under the rental agreement. The rental guarantee can replace the provision of a deposit to the lessor.
Opens in a new tab ApplyPerformance guarantee
A performance guarantee assures the beneficiaries that they will receive financial compensation when you do not meet your obligations. This is for instance the case when you do not deliver goods or services or when you do not perform the works as per agreement.
Opens in a new tab ApplyPayment guarantee
A payment guarantee assures the beneficiaries that they will receive the amount of the invoice if you do not meet your payment obligations.
Opens in a new tab ApplyAdvance payment guarantee
An advance payment guarantee assures the beneficiaries that they will be able to recover a prepaid amount if you fail to meet your obligations.
Opens in a new tab ApplyBid bond
A Bid Bond assures the beneficiary that he will receive financial compensation in case you decide to not accept the awarded contract. A Bid Bond is often used for international tenders.
Opens in a new tab ApplyCustoms guarantee
A customs guarantee allows you to periodically pay import duties, excise taxes and levies on imports. The customs guarantee assures Customs that the amounts due will be paid.
Opens in a new tab ApplyDeclaration of intent
That you will be able to deliver a Performance guarantee after contract has been awarded
Opens in a new tab ApplyJudicial guarantee
A judicial guarantee allows you to prevent or to lift a conservatory attachment. A judicial guarantee serves as an alternative security for the creditor.
Opens in a new tab ApplyMaintenance guarantee
A Maintenance guarantee assures the beneficiary that he will receive financial compensation when you do not meet your maintenance obligations.
Opens in a new tab ApplyStandby letter of credits
An effective means of securing cross-border and domestic contracts
- A standby LC is a separate instrument independent from the underlying transaction/commercial contract
- The beneficiary has the option to request advice or confirmation from another financial institution to strengthen the security of the standby LC.
- Standby LCs are recognised globally as an effective means of securing cross-border and domestic contracts
Do the bank guarantee and standby LC align with your trade needs?
Contact your ING representative to know more information