International guarantees

To reduce risks of payment for goods and to obtain a delay in payments in transactions with foreign counterparts.

International banking guarantee -

when the Bank guarantees a foreign company that you will pay money, provide services, return the advance or fulfill other obligations under the agreement. If you fail to do so, the Bank will pay for you.

Your benefits if you export:

Reducing risks

Ask the buyer for a guarantee of payment and be sure to pay for your goods

Client loyalty

Issue guarantees for importers and strengthen trust relationships

Different types of guarantees

Guarantee of return of advance payment or execution of the agreement, as well as Warranty guarantee

"Confirmed" guarantee

We can instruct a foreign bank trusted by your client to issue a guarantee on your behalf

Your benefits if you are an importer:

Delayed payment

Provide a payment guarantee to the Supplier and pay for the goods later without prepayment

Cheaper than a loan

Payment guarantee is bank financing, which in the form of a loan costs more

Different types of guarantees

You can request the Supplier to guarantee the return of the advance payment or execute the agreement, as well as Warranty guarantee

"Confirmed" guarantee

We can instruct the foreign bank trusted by the Supplier to issue a payment guarantee on your behalf

With whom the Bank works

Any countries except for those in the sanctions list of RK, USA, EU and UN.

It is also important to have SWIFT keys with the beneficiary’s bank.

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Conditions and documents

1. To issue the covered guarantee, the Client shall submit the following documents to ATFBank and meet the following conditions:
- a copy of the purchase and sale agreement and all supplementary agreements, appendices and specifications to it (if necessary, the agreement should be assigned a record number) in the Bank's currency control unit),
- a completed application for an international guarantee,
- cash coverage of 100% of the amount and guarantees on the current account in the guarantee currency,
- cash on current account in tenge to pay the fee for technical issue of the guarantee.

2. To issue an uncovered guarantee under the credit facility, the Client must submit the following documents to ATFBank and meet the following conditions:
- a copy of the purchase and sale agreement and all supplementary agreements, appendices and specifications thereto (if necessary, the agreement must be assigned a record number in the Bank's currency control unit),
- a completed application for an international guarantee,
- an application for a bank guarantee within a credit facility, as well as other documents upon request of a Credit Unit consultant,
- cash on current account in tenge to pay the fee for technical issue of the guarantee.

A one-time commission for the technical issue of the guarantee is 0,25% of the guarantee amount, minimum 23,000 tenge, maximum 230,000 tenge. The commission is deducted from the current account of the Client in KZT at the accounting rate on the day of collection.
Other commissions of ATFBank can be found in the Tariffs for Bank Guarantees and Documentary Operations posted on the link (tariffs for international guarantees are listed in Sections 2 and 3):https: /business/services/tarifi-dlya-msb-i-krupnogo-biznesa

Types of guarantees

In international practice, bank guarantees are subject to the Unified Rules for Demand Guarantees (published by the International Chamber of Commerce No.758, 2010 edition) - URDG 758. Thus, according to Article 4 of URDG758, any guarantee is irrevocable from the date of issue, that is, the guarantee cannot be changed or cancelled without the consent of the beneficiary.

The unconditional guarantee is executed (paid) only against a simple written request for payment by the beneficiary, submitted within the validity period of the guarantee, and corresponding to the terms and conditions of the guarantee and URDG 758.

If the guarantee contains any additional features, reservations, restrictions for the beneficiary (for example, the period of submission of the claim or the list of documents that must accompany the claim for payment), such a guarantee is deemed conditional.

Depending on the nature of obligations secured, guarantees are divided into the following types:

Payment guarantee	covers the buyer's obligation to pay for the goods received on time after the delay in payment provided by the Supplier in accordance with the terms of the Agreement of sale
Advance payment guarantee	secures the Supplier's obligation to return the advance payment in case of violation of the delivery schedule of the prepaid goods or performance of services
Bid bond	to participate in tender (bid); provides compensation of the guarantee amount in case of withdrawal of the principal's application for participation in the tender (bid) before the expiry of the term, refusal to conclude the agreement, or refusal to make a security for the agreement execution after its conclusion
Performance bond	provides various obligations of the Supplier of goods/services to the buyer/clients, e.g. delivery of goods, installation of delivered equipment in accordance with technological parameters or payment of a fine in case of the seller's refusal to deliver goods/services
Warranty bond	one of the types of performance guarantee, covers the obligations of the Supplier during the warranty period of the delivered and installed equipment or construction object

As collateral, a guarantee may be:

Covered guarantee

a guarantee, in order to ensure the issuance of which the Client provides ATFBank with funds deposited from his current account in the amount and currency of the guarantee, which are debited from the Client's current account and accounted for on the money storage account until expiration of the guarantee period. The Client is not able to use this deposit for settlements with the counterparty under the agreement

Uncovered

a guarantee that is secured by a credit facility or by collateral or other pledges, except for a mortgage of money. At the same time, a term deposit is not a cash cover / mortgage, but it can act as collateral for a one-time non-revolving credit facility opened for issuing a guarantee.

Based on the principle of the opening and use mechanism:

Direct	a guarantee in which the bank-guarantor is ATFBank
Confirmed	a guarantee in which the bank-guarantor is another bank (beneficiary or a foreign bank with a high rating under the counter-guarantee of ATFBank

Other offers of ATFBank

Letter of credit

For the security of your movable and immovable property sale transactions, as well as the provision of services.

Details

Documentary collection

For importers and exporters for reliable protection of trade transactions!

Details

Financing of corporate clients

Submit an application and receive money for development of your enterprise in KZT, USD or EUR!

Details

Letter of credit

For the security of your movable and immovable property sale transactions, as well as the provision of services.

Details

Documentary collection

For importers and exporters for reliable protection of trade transactions!

Details

Financing of corporate clients

Submit an application and receive money for development of your enterprise in KZT, USD or EUR!

Details

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