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Cash Transaction
| Currency | Buy | Sell |
|---|---|---|
| EUR RUB | 87.2296 | 92.0864 |
| EUR CHF | 1.0695 | 1.1180 |
| EUR USD | 1.1942 | 1.2342 |
| EUR GBP | 0.8437 | 0.8678 |
Non-cash Transaction
| Currency | Buy | Sell |
|---|---|---|
| EUR RUB | 89.8132 | 91.0370 |
| EUR CHF | 1.0993 | 1.1116 |
| EUR USD | 1.2188 | 1.2288 |
| EUR GBP | 0.8617 | 0.8678 |
25.02.2021
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.
- 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.
- For a seller (exporter):
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 parameters of Guarantee operations
| Service | Charges |
|---|---|
|
Issue of Bank Guarantee on cash covered basis |
0,083% per month, min. 0,25% or 50 EUR (whichever is higher) |
|
Issue of Bank Guarantee within a credit limit |
0,15% per month, min. 0,45% or 50 EUR (whichever is higher) |
|
Extension of Bank Guarantee on cash covered basis |
0,083% per month |
|
Extension of Bank Guarantee within a credit limit |
0,15% per month |
|
Issuance / extension fees for Bank Guarantees favour of the Civil Registry and Migration Department (once off fee for up to 10 year tenor) |
100 EUR (for BG amount 850 EUR) |
|
Amendment of Bank Guarantee |
50 EUR (per amendment) |
|
Cancellation of Bank Guarantee before approval |
20 EUR |
|
Handling commission (applicable only when RCB Bank Ltd pays a claim) |
0,25% min. 10 EUR max. 500 EUR |
|
Claim fees (applicable only when RCB Bank Ltd pays a claim) |
100 EUR |
|
Advising a Bank Guarantee (without responsibility) |
0,1% min. 50 EUR, max. 100 EUR |
|
Advising an amendment of Bank Guarantee (without responsibility) |
50 EUR (per amendment) |
|
Issuance fees for Bank Guarantees issued under Inward Counter Guarantees |
According to country/bank risk min 100 EUR |
|
Swift fees |
10 EUR |
|
Courier charges |
35 EUR (for abroad) / 10 EUR (for local) |
|
Postages |
2 EUR (for abroad) / 1 EUR (for local) |
|
Evaluation of complicated cases |
50 EUR – 250 EUR (Ad-hoc fee) |