If, in the process of your business activities, you need to guarantee your solvency before customs officials, business partners, contracting parties under agreements, when participating in tenders or public procurement procedures, to apply for licence acquisition, or in all cases when the clauses of your contracts require submission of a bank guarantee, CIBANK is pleased to offer you the following services:

GUARANTEES SUBMITTED TO THE CUSTOMS ADMINISTRATION

CIBANK issues guarantees for the benefit of the customs authorities in order to guarantee payment of duties, customs dues and VAT, payable by the principals - clients of the Bank, in relation to their foreign trade activity.
In order to issue a customs guarantee, the principal is to file a written request with CIBANK and to submit the respective customs documentation, attesting to the necessity of guarantee issuance and its amount and term.

GUARANTEES FOR PARTICIPATION IN TENDERS AND COMPETITIVE BIDDING

These are issued for the benefit of a tender organizer (principal of a public procurement procedure) in order to secure the execution of the obligations of a tender participant.

PERFORMANCE BONDS

These are used to guarantee the exact performance of the principal’s contractual obligations towards the beneficiary under a contract concluded between them (contract for delivery, contract for services, etc.)

FINANCIAL GUARANTEES FOR ADVANCE PAYMENT

These are issued to a client–principal, who is a supplier of goods or services against advance payment, for the benefit of one of their contractors–buyers. Recovery of the sum paid in advance is guaranteed in the case of contingent violation of the terms and conditions under the contract concluded between them.

PERFORMANCE OF MONEY OBLIGATION GUARANTEE

These are issued for the benefit of a beneficiary-creditor, in order to guarantee them the payment, in compliance with the terms and conditions of a contract concluded between the beneficiary-creditor and the principal.

CIBANK shall only issue a bank guarantee upon submission of all required documents: documentation attesting the status and financial standing of the company-principal; documentation with reference to the terms and conditions of the guarantee; documentation, concerning the security, etc.
CIBANK shall consider with priority requests for issuance of bank guarantee on which the security offered is a pledge of only financial assets. All other requests shall be considered in compliance with the procedure for credit requests.
 
The principal shall submit a written request in the following format: Request for issuance of bank guarantees by corporate clients.

CIBANK shall consider with priority requests for issuance of bank guarantee on which the security offered is a pledge of only financial assets. All other requests shall be considered in compliance with the procedure for credit requests.

Bank Guarantees for Carriers to AEBTRI

CIBANK is pleased to offer a new bank service – issuance of a bank guarantee for the right to access the TIR system, for the benefit of the Association of Bulgarian Enterprises for International Road Transport and the Roads (AEBTRI). The guarantee serves to cover the risk of AEBTRI, arising from violation or irregularity of a transit operation conducted under the cover of the TIR Convention.
 
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