Also called a Bank Guarantee or BG MT760 it’s issued by a bank on behalf of its client upon their request. If a client wants to enter into a new project or trade deal, then they require a Guarantee to assure their commitment towards their counterparties. In this case, the client contacts their bank to avail BG MT760. The issued BG acts as a promise to assure the counter party, that in case of buyer’s default, the bank will meet all financial obligations as stated in the contract.
As BG gives required assurance, most of the trade dealings happen with the use of Bank guarantees. Further, this BG MT760 helps traders to do business & execute trade deals with big companies which couldn’t be possible without the use of a Letter of Guarantee. All these make Bank Guarantee, the popular financial instrument in today’s trade market.
To issue an MT760, your bank will demand you to block a 100% cash margin or a third party assurance. If you don’t have enough cash funds to block as collateral, then your BG request will be declined. We are well aware of the crisis faced by traders and contractors in availing MT760. That’s why we support them by extending our bank facilities on their behalf and provide the required MT760 guarantees without blocking their cash funds.

What is the Process of Bank Guarantee?

When importers / exporters get connected to do business, Trust is the glue that holds both parties. In such cases, the trust is easier to maintain, if a third party stands as a guarantor to bear any unforeseen crisis. BG MT760 acts as an agreement between 3 parties, viz. the applicant, the recipient, and the bank. Whereas, the bank promises to cover a loss; if a buyer defaults. So by this, BG promotes trust between traders; which greatly encourages them to conclude their deal.
For example: If a project owner is going to sign a construction contract with the contractor or a buyer enters into a contract for the supply of goods; then they require a Bank Guarantee to assure their commitment in terms of payment to their counter party. This gives assurance that the contractor will complete the task without any hurdles. In case of any default, the bank obliges to meet the commitment as agreed in the contract. However, it doesn’t give any guarantee to any party regarding the completion of a project or the supply of goods and so on.
In case of any default in the contract and if the counter party needs to claim the payment means, then the BG needs to be liquidated. To claim the BG, the seller or the contractor needs to submit the required documents to the banks as per the contract terms. The banks will review the documents and if it complies, then they will make the payment as compensation to the counter party.

• Improve the credit ratings for issuers of industrial growth, revenue bonds, and commercial papers.
• Provide backup facilities for loans granted by third parties.
• Assure performance under construction and employment contracts.
• With BG, you can spread your working capital around, rather than tying up in a single project or trade deal.

Parties Involved in Bank Guarantee

In BG, three types of parties involved:-

1. Issuing Bank: The one who takes the obligation for payments, in the case of a default by the contractor or buyer.
2. The Applicant: The buyer of goods / services or a contractor hired to fulfill a contract.
3. Beneficiary: The seller of goods / services or a company that needs a contractor.

How to Get Bank Guarantee?

Since banks take the commitment on behalf of the clients, the applicant needs to prove their creditworthiness to their banks to avail BG. Banks will also do a proper background check of the applicant and make an account of credit history, liquidity, past transactions, and so on. Even if the applicant complies with all these terms, they will demand a certain percentage of the guarantee value as cash margin, assets as surety, or third party assurance. The bank will start working on your BG request, only if the client obliges to all the terms and conditions of the bank. If you are a buyer or contractor who requires Bank Guarantee & if you don’t want to tie up your working capital in a single deal, then you can contact us. To apply BG MT760 on your behalf, without any cash margin, fill out the form. We provide BG MT760 from rated banks within 48 working hours.

Types of BG

Performance Bond

Generally, the applicant (buyer) borne the cost for the issuance of SBLC. Mainly, the cost includes – bank commission, processing fee, and transmission fee. All these charges paid by the importer at their bank as per the agreed contract between the buyer & the seller. To get more details on our tariff, Contact Us

Advance Payment Bond

Ensures that they will return the advance payment in case of non fulfillment of terms as per the contract.

Bid Bond (Tender Bond)

Assures that the winning bidder will undertake the project & abides by the terms of the contract.

BG Cost

The cost of BG MT760 includes the commission fee, transmission fee & processing & handling charges. Further, to know more info on costs & other tariffs, contact us!

International Bank Guarantee Providers

Steppe Group L.L.C. is an International Bank Guarantee provider in Dubai. We can provide BG MT760 on behalf of traders and contractors without obtaining any collateral from your end. With our decades of expertise in offering trade finance services, we can assure you that we can provide you the right solution to conclude your deal in a timely way. Further, we will be the one-stop solution for all the Bank instrument requirements of a growing trader. Having BG MT760 in hand can assist you to conclude more worthy trade deals and contracts with principal suppliers. So, apply for BG MT760 now & get it issued in 48 banking hrs!

Bank Guarantee Requirements: How to Obtain Bank Guarantee?

Are you unable to take up new projects due to financial crunches? Now you can sign worthy trade deals and contracts by availing BG MT760. But, how will you get started with the BG request? Do you know what the Bank Guarantee requirements are? In order to avail BG MT760 from banks, there are certain terms that you should comply with. Continue reading the blog to know – What is Bank Guarantees & the requirements to get BG MT760.

What is Bank Guarantees?

Bank Guarantees are issued by a bank as a promise to undertake the payment risk on behalf of its clients. Mostly, BGs are used in trade deals and projects to protect the counterparty from fiscal risks. Further, this MT760 guarantee helps traders even SMEs to import goods from big companies, which usually could not be happened without BG MT760. For this purpose, nowadays, more & more traders require BGs to grow their business & to earn status in the global trading market.

What are the Bank Guarantee Requirements?

Anyone who has a good financial record with their banks can apply for BG. If you contact your banks to avail BG; they will analyze your banking history, credit score, and liquidity, before approving your BG request. Further, they would also study your deal, the value of required BG, beneficiary details, etc. Then, if everything is up to the mark, they will consider your BG request; Also, they will ask you to provide a certain percentage of the BG value as collateral or cash holdout. Finally, if you comply with the banking requirements, the officials will provide the required approvals & will start to process your BG request.

How to Obtain BGs at ZERO Collateral?

In case, if your banks said “No” to issue the BG due to the non-compliance of banking norms, don’t hold or lose your project! We are here to help you by providing the required BG without demanding a cash margin. Since we have our own credit facilities with rated banks, we will block our bank limit based on the BG value you require. Further, the bank will issue the BG from our bank account on behalf of your company. Also, with us, you can avail the required BG without providing us any fiscal security.

Documents Required for Bank Guarantees

• Proforma invoice or sales contract of the trade deal or contractual agreement of the project
• Copies of company registration or Trade License
• Passport copy of authorized signatory
• Proof of residence address & company address for the authorized signatory
• Bank account statement for the last 6 months
• VAT Registration (if applicable)

Apply BG MT760

Once you are ready with the documents listed above, you can submit your BG request to us! We, the International BG Providers can analyze your trade deal and get back to you with a FREE quote within 24hrs! Contact us now & avail the BG in just 2 days at ZERO Cash Holdout!

How to Apply for Bank Guarantee – MT760 from European Banks

Are you looking to avail MT760 Guarantees on behalf of your company? But don’t know how to get started? Watch this video to know more about – How to Apply for Bank Guarantee from European Banks? Bank Guarantees are the written undertaking issued by banks to assure the counterparties that they will be liable to meet the payment terms. In case if the client fails to oblige with the terms as per the signed contract. Such MT760 Guarantees are usually used for the purchase of bulk goods, lease equipment, and heavy machinery, drawdown loans, and so on. Also, availing BGs can help traders to secure loans. Also, conducting business dealings with suppliers; couldn’t be possible without BG.

Sign More Trade Deals and Contracts Using BG MT760

If you contact banks with a guarantee request, first they will do an analysis of your financial background and will ask for a certain percentage of the deal value as a cash margin. And then, they will proceed with your request only if you meet their marginal demands. So, if you’re a business owner who didn’t want to block your working capital to get BG MT760, then contacting Steppe Group L.L.C., the Bank Guarantee Providers in Dubai would be the right choice for you!

How to Apply for Bank Guarantee

To avail MT760 Guarantees from European Banks, follow the simple process given below:-

1. First, as an applicant, you need to submit your BG requirements to us. We will study your application & if it obliges with our terms, then we will approve your request.
2. As the next step, we will ask you to sign the service agreement and to pay the service charges to start working on your request.
3. Further, by blocking our bank limit, we will structure the required guarantee and will send the draft copy for your review.
4. Further, once you provide your approval on the draft, we will ask you to pay the issuance fees to proceed with the issuance of BGs on your behalf.
5. After receiving the issuance fees, we will instantly forward your BG request to our bank and instruct them to issue the requested BGs. As per our request, they will issue the BG to your counter party’s account via SWIFT MT760.

By following these simple 5 Steps Process, you can get MT760 Guarantees on behalf of your company from European Banks!

Advantages of BG MT760

• Give small businesses the ability to assure the counter party that they have the ability to meet the financial commitment; that would otherwise seem beyond their limit without BG.
• Acts as proof to prove financial credibility backed by a bank.
• Reduce the fiscal risk involved in dealing with unknown dealers.

Apply for Bank Guarantee

Have you decided to use Bank Guarantee for your upcoming trade transaction? Now it’s very easy and simple to get the BG MT760 issued on your company’s behalf! All you need to do is – submit your BG requirements to us along with the details in regard to your trade deal or contract. Our team will structure your BG transaction in the best possible way & will get the BG issued in 2 working days.

Bank Guarantee Issuance – Which Bank Issues Bank Guarantee?

In today’s global trading environment, traders are not ready to step into a trade deal without having any kind of assurance in their hands. Sellers are more likely willing to work with buyers who are ready to provide some sort of guarantee to assure their payment and performance. As a result, here comes the importance of having Bank Guarantees. If you are looking to get an MT760 for global trade, watch the video given here or read this blog to know – What are Bank Guarantees, the process to avail BG, and the banks which issue BG MT760.

What are Bank Guarantees?

Bank Guarantee is a written undertaking issued by banks; to ensure the buyer’s commitment to complete a particular project or task on time without any default. Also, it assures that the seller will receive compensation from the buyer; in the event of a breach of contract.
And also, this MT760 secures the seller from any unforeseen risks involved & gives the required payment assurance. For this reason, sellers demand buyers to support their contract terms by providing an MT760.

How to Get a Bank Guarantee?

Are you going to sign a new contract or trade deal with your seller? Is your counterparty asking for a BG MT760 in their favor? In this case, if you are having a good track record and a credit facility available; then you can get help from banks directly. Before approving your BG request, the banks will undergo a thorough background check to verify your previous transaction history and credit score, etc. Also, if everything is up to the mark, they will consider your BG request; and then, move on to the next step. Further, the banks will ask you to provide a certain percent of the bond value as collateral to issue the BG MT760. Finally, if you comply with all the demands, they will approve your request and start working on your BG request. Of course, the BG issuance process will take approx. 2 to 3 weeks.

Which Bank Issues Bank Guarantees?

If you have the existing credit line available; or if you are ready to pay the bond value as collateral; then all the banks are always ready to provide the required BG MT760. In case, if you fail to meet the banking terms, then they will decline your request and you may need to look at other options to get the required MT760. Here comes the role played by Steppe Group , the International Bank Guarantee Providers in Dubai!

Bank Guarantee Issuance at ZERO Collateral!

Unlike banks, we will not ask you to provide cash margin or collateral to issue the BG MT760. Also, compared to banks and other private lenders, our paper works are very less & faster approval time! Moreover, with us, you can be able to get the required BG MT760 in less than 48hrs. To proceed with BG Issuance, contact us today! We facilitate BG MT760 from our list of Rated European Banks at ZERO Collateral!