Under the application criteria, covering the subsidised amount and 20% of the interest and charges on it (an aggregate 120%), a bank guarantee or a guarantee bond issued on the basis of an insurance contract can serve as security for the subsidy granted for the implementation of the project.
How does it benefit you?
- It means the Bank’s independent assumption of obligation, which is, unless stipulated otherwise, irrevocable.
Clients most frequently apply for the following types of bank guarantees
- payment guarantee
- advance repayment guarantee
- loan repayment guarantee
- good performance bank guarantee
- tender guarantee
In the case of EU invitations to tender, OTP Bank’s guarantees are issued in conformity with the requirements in the tender invitations.
Terms and conditions
- as per the Announcement