EXPRESS BANK GUARANTEE

• Performance Guarantee

Under a performance guarantee, compensation of money will be made by the bank when there is any delay in delivering the performance or operation.

• Advance Payment Guarantee

Under this kind of guarantee, an advance payment will be made to the seller. It also guarantees that if the seller fails to deliver the service or product accurately or promptly, the buyer will receive a refund of the payment.

• Financial Guarantee

Financial guarantee is an undertaking from a bank to take responsibility for another company’s financial obligation if that company does not meet its responsibility.

• Foreign Bank Guarantee

A foreign bank guarantee is provided by a bank on behalf of a borrower/Creditor. This will be issued for the benefit of a foreign beneficiary.

• Deferred Payment Guarantee

It refers to a BG offered to the exporter for a deferred period or for a certain time period. When a buyer purchases capital goods or machinery, the seller will give credit to the buyer if the buyer’s bank gives a guarantee that it will pay the unsettled dues of the buyer to the seller. 

• Bid Bond Guarantee

Used for a supply bidding procedure, the contractor of the project will guarantee that the best bidder or the highest bidder will have the capability and authority to implement a project as per his or her preferences.

Yes, Customers can avail ICICI Trade Online Platform for issuing BG Online

Yes, Customer visits the ICICI bank branch for availing Bank Guarantee against 100 percent fixed deposit from their saving account.

Who requires Bank Guarantee
Individual Contractor working with State Govt., Central Govt., Semi Govt. bodies
Medical colleges for Student Admission
Income Tax authority
Judiciary for Legal Purposes and others

Benefit ICICI BG from Saving Account
Apply for ICICI Bank Express Bank Guarantee from your saving account against Fixed Deposit
Express Processing in Just 3 Hours*
Single Visit Fulfilment
Simplified Documentation
Competitive Pricing
Universal Acceptance - Acceptance from Government Institutions & bodies
Earn higher Interest rate on Fixed deposit