Bank guarantee

Tender guarantee is often required when taking part in tender processes to ensure that:

1. the tender is not withdrawn before the bidding round is finished;
2. the company that wins the tender fails to sign the contract;
3. the company that wins the tender can place a performance guarantee for delivery.

Secure payment for contracts for product or service delivery. The guarantee can apply to individual deliveries or an ongoing agreement. The guarantee amount is normally the whole contract amount or the outstanding contract amount with the deduction of the advance payment.

When DNB places a guarantee, we undertake a payment obligation vis-à-vis guarantee creditors. If we have to pay a claim that is received under a guarantee, we’ll seek a refund from our customer (guarantee debtor).

A guarantee therefore entails a credit risk to DNB and an application for a guarantee/guarantee facility limit will undergo a credit assessment in the same way an application for credit or a loan.

DNB has a high level of expertise and can help you formulate guarantee documents of a high standard. We also have a large international correspondent network and can provide all types guarantees all over the world.