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Other types of guarantees

Payment guarantee secures buyer’s payment obligations toward seller under the contract.

Performance guarantee secures the performance of the seller’s contractual obligations to deliver the goods / provide services/execute works.

Advance payment guarantee secures the fulfillment of the sellers’ obligations toward the byers to return advance payment in the event the failure to meet their obligations under the contract (agreement).

The main terms of the guarantee issue of JSC “PIRAEUS BANK ICB”:

  • Currency of guarantee and cash cover/deposit: UAH, USD, Euro. Currency of cash cover/deposit must match with the currency guarantees.
  • Amount and term of guarantee: limited by the contractual obligations that are secured by the issued guarantee.
  • Security: property rights under the deposit placed in JSC “PIRAEUS BANK ICB”; cash cover on JSC “PIRAEUS BANK ICB”account;
  • other liquid collateral.
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Piraeus Bank took the 1st position in the rating of the most sound mid-sized retail banks (with assets less than UAH 15 bln and a retail deposit portfolio more than UAH 1 bln on July, 1st 2019) in August, 2019 and has become the only bank with a total rat
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