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Cash Transaction

Currency Buy Sell
EUR RUB 69.9709 74.4565
EUR CHF 1.1032 1.1481
EUR USD 1.1014 1.1414
EUR GBP 0.8712 0.8991

Non-cash Transaction

Currency Buy Sell
EUR RUB 71.6795 72.7978
EUR CHF 1.1163 1.1275
EUR USD 1.1133 1.1233
EUR GBP 0.8765 0.8835
25.05.2019

Bank Guarantees

A Bank Guarantee is a one-way contract between a Bank acting as guarantor and a beneficiary. Under this contract the bank undertakes to make payment to the beneficiary within the limits of a stated sum of money, if the beneficiary’s counterparty (i.e. the applicant for the Guarantee) fails to fulfil its contractual obligations to the beneficiary in accordance with the terms of the underlying agreement between them. In such a case the beneficiary can make a demand for payment to the Guarantor (issuing bank of the Bank Guarantee).

The advantages of Bank Guarantees

Using Bank Guarantees as a security instrument in trade business offers clients a number of advantages:

For a buyer (importer):
  • Provides a buyer the opportunity to count on more lucrative contractual terms from the seller, given that the risks of a commercial transaction for a seller are reduced when a buyer provides a guarantee;
  • A Bank Guarantee acts as additional confirmation of a buyer’s financial sustainability;
  • A Bank Guarantee offers an alternative to an advance payment or serves as a guarantee that a prepayment will be returned.
    • For a seller (exporter):
      • Limits the potential risk that a buyer may fail to make payment under a contract;
      • Using bank guarantees makes it possible to expand a sales market by reducing the risk of non-payment by counterparties with whom a seller does not have sufficient experience of cooperation.
Guarantee operations performed by RCB Bank Ltd
  • Issuing, upon request of clients of RCB Bank Ltd, the following types of bank guarantees and counter-guarantees:
    • Payment guarantees;
    • Performance guarantees;
    • Tender guarantees;
    • Advance Payment guarantees.
  • Advising of guarantees issued by other banks in favour of clients of RCB Bank Ltd.

When carrying out guarantee operations the bank abides by the terms of "The Uniform Rules for Demand Guarantees", as amended in 2010, issued by the International Chamber of Commerce and is referred to as URDG 758.

Basic pricing parameters of guarantee operations
ServiceCharges

Issue of Bank Guarantee on cash covered basis

0,083% monthly, min. 0,25%

Issue of Bank Guarantee within a credit limit

0,15% monthly, min. 0,45%

Extension of Bank Guarantee on cash covered basis

0,083% monthly

Extension of Bank Guarantee within a credit limit

0,15% monthly

Amendment of Bank Guarantee

50 EUR (per amendment)

Cancellation of Bank Guarantee before approval

20 EUR

Bank Guarantee advising

0,1% min. 50 EUR, max. 100 EUR

Advising an amendment of Bank Guarantee

50 EUR (per amendment)


Basic pricing parameters of guarantee operations - Valid from 10.06.2019