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Bank Guarantee

Guarantee of contractual obligations

The Bank ensures that its obligations with third parties are duly complied with.

Access to better financial conditions

The existence of a bank guarantee in favour of the borrower may mean access to better financing conditions.

Partnership

Possibility to fulfil obligations with total swiftness and security.

Issue of the Guarantee: A process organisation fee and the Quarterly Fee or Fraction of the Quarter are charged.
Change in the Guarantee: The extension or increase in the value of the Guarantee is charged to the respective fee, including the Office Expense Fee.

All fees relating to Bank Guarantees are published in the Bank's Schedule of Charges.

To request the Issue of a Bank Guarantee, visit a Millennium bim Branch

Amount: subject to case-by-case analysis.

Term: with or without due time.

Financial Guarantees with a Credit Replacement Nature: They are intended to guarantee the reimbursement of cash benefits of capital and interest under a credit liability - pre-existing or future, formalized or to be formalized contractually - between the guaranteed Borrower and the Creditor;
Financial Guarantees without a Credit Replacement Nature: They are intended to guarantee or replace pecuniary liabilities assumed by the Ordering Party, or by a third party, to the Beneficiary, arising from legal or contractual obligations;
Technical Guarantees: They are intended to ensure proper compliance by the Ordering Party, or by a third party, of technical obligations agreed between the guaranteed Borrower and the Beneficiary, even if its non-compliance results in a responsibility of pecuniary nature towards the Beneficiary for the Bank.

The total cancellation of the Guarantees issued must be made by the end of the established term.

Subscription to a blank promissory note. Personal or real counter guarantees may be negotiated according to the Credit Risk analysis.

Benefits