A bank guarantee is a commitment by Co-opBank to fulfill the financial obligations of the guaranteed party (its customer) to the beneficiary if the guaranteed party fails to perform or fully perform its obligations as specified in the guarantee letter.
The applicant must be an organization (including credit institutions, foreign bank branches, and foreign credit institutions) with its head office located within the lending area of the relevant Co-opBank branch.
The guaranteed obligation must be a lawful financial obligation.
The guarantee proposal must be feasible.
Collateral owned by the customer or a third party is required.
Required Documents
Application for a bank guarantee;
Legal documents of the applicant (e.g. Business Registration Certificate, Charter, Board Resolution);
Identification documents of the applicant’s authorized representative;
Documents relating to the guaranteed obligation;
The applicant’s financial statements and supporting financial documents;
Documents relating to the collateral;
Other documents as required by Co-opBank.
Competitive fees
A comprehensive range of guarantee products, including:
