Bank guarantees are a sign of confidence. If we furnish a surety or guarantee it means that we are convinced that you will meet your financial obligations. If we are mistaken we jump in to help, thus reducing the risk of payment defaults to zero.
Companies who are doing business with new or foreign partners will be familiar with the demand for a guarantee. What may come across as mistrust is in essence shrewd risk management. After all, trust needs time to grow.
LBBW has built up trust with its customers over a period of years, which is why we are happy to be a guarantor for certain liabilities. This gives your business partners peace of mind and enables you to continue to enjoy financial flexibility.
LBBW's bank guarantees cover a variety of special cases from A to Z. Our range of products includes:
- Advance payment guarantee: If an agreed service is not performed, the surety ensures that an advance payment is made.
- Warranty guarantee: If defects are identified during the warranty period, the costs are covered if the company becomes bankrupt during this period.
- Leasing guarantee: This comes into effect in the event of loss of leasing income and damage to the leased item.
- Litigation guarantee: This applies in the event of foreclosures.
- Contract performance guarantee: This ensures that the contractual obligations toward a third party are fulfilled.
- Payment guarantee: This offers protection in case the debtor becomes insolvent.
- Customs guarantee: Companies can use these guarantees to defer import duties until their goods are resold or reprocessed and claim the amounts back from the importers at a later date.