A guarantee issued by the bank provides security to your company and helps to manage risks especially when you have a new contracting party or when a major transaction is involved.
For what purposes?
Bank guarantees can be used in numerous connections such as collateral for various deliveries and construction contracts as well as for the purchase price and other payment obligations. Bank guarantees can also be used to fulfil the collateral obligations set by different official regulations or legislation.
Your company can also request a bank guarantee from the other contracting partner so that you can be sure that your partner will be able to act as provided by the agreement. Contact us to check if we can carry the foreign country and bank risk on your behalf.
Guarantees as for one’s own debt are mainly used in Finnish transactions, whereas “On demand” guarantees are commonly used in international transactions. For your foreign trade, we have drafted guarantee texts that you can provide for your trading partners across the globe – they are available hereOpens new window. The drafted guarantee texts help orders to proceed faster and are good for all parties involved.
Read more about bank guarantees in our brochures.
How to apply for a bank guarantee
You can apply a bank guarantee by making an appointment to a online meeting by contacting Nordea Business Centre. You can fill the bank guarantee application form before the meeting. The form can be found from the link below.
If you need bank guarantees regularly, please call Nordea Business Centre or be in touch with your contact person.
We offer you our Trade Finance Global service which you can use for sending guarantee applications electronically whenever it suits you best.
For further information, please contact us.