Advising of Bank Guarantees

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as of 09/01/2025 12:34:28

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1.93800

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2.12400

2.12200

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2.03000

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2.08133

Advantages

Existence of an irrevocable commitment of the Bank to make a payment.
Each stage of the trade deal can be secured - tender guarantee, advance payment guarantee, good performance guarantee, payment guarantee, guarantee for warranty obligations, etc.
By advising the received in your favour guarantee the Bank ensures you confirmation of its authenticity and expert advice in case of claims under the guarantee.

How does it work

UBB receives and advises bank guarantees issued by other banks in your favour confirming their authenticity.

UBB, in its capacity of an advising bank, will notify (advise) you in writing about the receipt of the bank guarantee and will confirm its authenticity.
In case you need to claim payment under the received bank guarantee, you can get our expert advice.

Important: The final decision on whether the claim is to be paid is taken by the issuing bank. UBB, as an advising and consulting bank, is not committed to the payment of the bank guarantee.

To reduce your risk and to increase your convenience, it is advisable to provide the guarantees issued in your favour to your servicing bank for administrative handling.

Frequently asked questions

1. What can be done if you are not sure of the reliability of the issuing bank?

UBB may issue a bank guarantee in your favour that has been secured with a counter-guarantee received in its favour. This must be agreed however in advance with the two banks involved in the operation and can only be done within the necessary limits.

2. Is it possible the guarantee issued in your favour to be amended or cancelled without your prior consent?

No. The issuing bank’s engagement is irrevocable.

3. When may you claim payment under a received guarantee?

When your partner is in breach of the contractual obligations, secured by the received guarantee. This may be done only in within the guarantee validity. UBB may ensure you an expert advice in case of claims under the guarantee.

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For companies with annual turnover up to 2 mln BGN

For companies with annual turnover above 1 mln BGN

For agri producters

For freelancers with annual turnover below 1 mln BGN

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Fees and terms

Exchange rates

Advantages

How does it work

Frequently asked questions

Send Request

Book a Video Meeting

Contact us

Offices and ATMs

Online/Mobile

Fees and terms

Exchange rates