In some cases, local or (inter) national legislation requires a guarantee to be issued as a condition to be allowed to practice a certain activity or profession or to enjoy a deferred payment. We can issue the required guarantees and will pay the beneficiary a maximum of the agreed guarantee amount if you fail to meet your legal obligations.
Benefits of this product
- The bail is proof of your financial health
- The guarantee provides financial security to the beneficiary
- Your own funds remain available as you do not have to block them for the beneficiary
- Your credit facilities with the bank remain unaffected
- Reduction of the collateral provided to the bank
Most important features
- Who? For all companies based in the European Union that require one or more legal guarantees or guarantees
- What? A guarantee under which one or more legal guarantees can be issued in the context of local or international legislation
- The bail or guarantee ensures that you meet your legal obligations and will allow you to practice a profession, continue an activity or enjoy a deferred payment
- In the event of default or insolvency, the counterparty may claim compensation up to a maximum of the predetermined amount
- Duration of the guarantees? Up to five years
A bail or guarantee may be required by law, for example to be able to practice a profession, to obtain a permit or even to enjoy a deferred payment. The legislation requires that you are able to give a guarantee, often in favor of a government agency. If you fail to comply with your legal obligations, the authority can make a claim and appeal to the bail or guarantee.
Typical legal guarantees are:
- customs and excise duties;
- permit and license guarantees (eg transport, port concessions);
- wood guaranteeing;
- environmental care trips;
- EU regulatory guarantees (eg agri-food guarantees); and
- tax guarantees.
Thanks to our legal guarantees you can practice a profession, further develop your business activity or enjoy a deferred payment without affecting your liquidity. Your own funds therefore remain available and you do not have to use your bank facilities. This allows you to free up resources to finance the growth of your business.
- We are flexible and quick in issuing your guarantees and guarantees
- We place great value on our relationships with customers and try to build a sustainable partnership.
- We have expertise and insight into the most important markets and activities where guarantees are required.