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What are the types of Bank Guarantee?

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Types of bank guarantee.

The issuing bank on behalf of their client (the provider), issues varying types of bank guarantee which fall into two classifications. These classifications are Performance Guarantee and Financial Guarantee.

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Performance Bank Guarantees

A Performance Guarantee covers losses suffered by the beneficiary in the event the provider is found guilty of non-performance on a contract.

Financial Bank Guarantees

A Financial Guarantee is a promise to pay by the issuing bank should the provider default on a payment to the beneficiary.

  • Performance Guarantees
  • Financial Guarantees
  • Payment Guarantees
  • Contract Execution Guarantee
  • Tender Guarantee
  • Warranty Execution Guarantee
  • Customs Guarantee
  • Advance Payment Guarantee

Verbiage and examples of Guarantees and SBLC’s can be found at our Download Centre.

If you have any further questions on this or any other subject related to bank guarantees, then you can search our frequently asked questions where you will hopefully find the answer you are looking for. Alternatively you can ask us a question and we will answer it for you.

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