Bank guarantees

What purposes can a bank guarantee be used for?

A guarantee issued by the bank provides security to your company and helps manage risks especially when your contracting party is new or you are about to conclude a major transaction.

Bank guarantees can be used as security for many types of transactions, such as various deliveries, works contracts, purchases of goods and property or other payment obligations. A bank guarantee can also be used to fulfil the security obligations provided for by different official regulations and legislation.

Your company can also require a bank guarantee from its contractual partners if you want to be sure that your partner will be able to fulfil the agreement terms and conditions. In fact, the guarantee provides you with protection in your business especially when you do not yet know your contracting partner very well. A bank guarantee serves as safe and reliable security for both parties.

In domestic trade, a guarantee as for one’s own debt is mainly used, whereas in international trade, an on-demand undertaking is usually used. We have written guarantee texts for foreign trade which you can offer your trading partners across the world – you can find them hereOpens new window. The ready-made guarantee texts will speed up the processing of orders and are an expedient solution for all parties.

How to apply for a bank guarantee

You can apply for a bank guarantee granted to companies by sending the application form below, duly filled-in, to your contact person at Nordea or by booking an online meeting from Nordea Business Centre. For the meeting, you can easily fill in a bank guarantee application by clicking the link below. Once you have filled in the form, please print the pdf document for your own records.

Application form (new interactive form)Opens new window

Application form (old PDF form) (pdf, 1 MB)Opens new window

If you need bank guarantees in your business regularly, we can grant your company a bank guarantee limit within which you can obtain guarantees swiftly and flexibly. For further information on the bank guarantee limit, please call Nordea Business Centre or get in touch with your contact person at Nordea.

We also offer you our Trade Finance Globa service through which you can send guarantee applications digitally whenever it suits you best.

Read more about guarantees in our brochures, which you can find at the bottom of this page. The brochures contain further details of the various guarantee forms, the conditions for issuing a guarantee and the most common purposes of use. The prices of a bank guarantee and bank guarantee limit for companies are listed in Nordea’s tariff.

If needed, we are also happy to tell you more about guarantees in person. If you are interested in obtaining a bank guarantee for your company, don't hesitate to contact us!