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Wholesale Banking
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To overview

Bank guarantee and standby letter of credits

Engage in international trade confidently with ING’s bank guarantee and standby letter of credits (LC) solutions. In the complex world of global commerce, ING steps in and provides financial instruments that guarantee an unconditional commitment to pay the beneficiary on demand in case of non-performance or non-delivery. Whether you use a standard or customised bank guarantee, you benefit from the assurance and security.

Your transactions are backed by a reliable financial commitment

Your business partners are assured of payment

You can negotiate the wording yourself

Bank guarantees that suit your exact trade needs

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  • Rental guarantee

    A rental guarantee offers the lessors assurance that they will receive the amounts due under the rental agreement. The rental guarantee can replace the provision of a deposit to the lessor.

    Apply

  • Performance guarantee

    A performance guarantee assures the beneficiaries that they will receive financial compensation when you do not meet your obligations. This is for instance the case when you do not deliver goods or services or when you do not perform the works as per agreement.

    Apply

  • Payment guarantee

    A payment guarantee assures the beneficiaries that they will receive the amount of the invoice if you do not meet your payment obligations.

    Apply

  • Advance payment guarantee

    An advance payment guarantee assures the beneficiaries that they will be able to recover a prepaid amount if you fail to meet your obligations.

    Apply

  • Bid bond

    A Bid Bond assures the beneficiary that he will receive financial compensation in case you decide to not accept the awarded contract. A Bid Bond is often used for international tenders.

    Apply

  • Customs guarantee

    A customs guarantee allows you to periodically pay import duties, excise taxes and levies on imports. The customs guarantee assures Customs that the amounts due will be paid.

    Apply

  • Declaration of intent

    That you will be able to deliver a Performance guarantee after contract has been awarded

    Apply

  • Judicial guarantee

    A judicial guarantee allows you to prevent or to lift a conservatory attachment. A judicial guarantee serves as an alternative security for the creditor.

    Apply

  • Maintenance guarantee

    A Maintenance guarantee assures the beneficiary that he will receive financial compensation when you do not meet your maintenance obligations.

    Apply

    • Standby letter of credits

    An effective means of securing cross-border and domestic contracts

    • A standby LC is a separate instrument independent from the underlying transaction/commercial contract
    • The beneficiary has the option to request advice or confirmation from another financial institution to strengthen the security of the standby LC.
    • Standby LCs are recognised globally as an effective means of securing cross-border and domestic contracts
    • Standby Letters of Credit are commonly used in the US, Canada, Australia, and across South America, including Colombia, Brazil, Argentina, Bolivia, Mexico, and Peru. However, other regions globally can also utilise them.

     

    Do the bank guarantee and standby LC align with your trade needs?

     

    Contact your ING representative to know more information 

    Why partner with us

    Our purpose is to empower people to stay a step ahead in life and in business. So whatever your financial needs, whether you are looking to expand and want strategic advice, or just want to make your day-to-day banking more efficient, we are here to support your business ambitions.

    • Serving corporate clients and financial institutions in over 35 countries.
    • We pair local and global insight with sector knowledge with financial expertise.
    • We are ranked as a leader in sustainability and we are included in the FTSE4Good Index.
    • Euromoney

      Best bank for sustainable finance in Central & Eastern Europe

      2024
    • The Digital Banker

      Highly acclaimed best wholesale bank for sustainable finance in Europe

      2024
    • Global Finance

      Best bank for cash management in Central & Eastern Europe and Western Europe

      2024