In an increasingly challenging business environment, a Bank Guarantee (BG) is an effective way of securing performance and payment. A company is often required to submit a Bank Guarantee while entering into a large-scale business transaction, carrying out a high-value project or receiving advance payment for working on a project. We provide world-class Bank Guarantee services for both domestic as well as international markets and assure your clients of your strong commitment as well. Some of the variants of guarantees offered include:

• Performance Guarantees

• Financial Guarantees

• Bid Bond Guarantees

• Advance Payment Guarantees

• Deferred Payment Guarantees

• Standby Letter of Credit

Safety & Security features of Bank Guarantees issued by ICICI Bank

• Bank Guarantees issued by ICICI Bank are printed on serially numbered security paper.

• Bank Guarantees issued by the Bank are advised to the Beneficiaries through the Structured Financial Messaging System (SFMS) by 760COV message type, wherever a trade-active IFSC of the Beneficiary’s bank is provided.

• Bank Guarantees issued by the Bank which are e-stamped and e-signed can be accessed through the National e-Governance Services Ltd. (NeSL) portal by the Beneficiary.

• Beneficiaries are advised to get the Bank Guarantees verified for authenticity by writing to bgconfirmation@icicibank.com or to ICICI Bank Limited, Trade Finance Operations Group, ICICI Bank Towers, Survey No.115/27, Tower 3, South Wing, 6th Floor, Plot No. 12, Nanakramguda, Serilingampally, Hyderabad – 500032, Telangana.

e-Bank Guarantee (e-BG)

e-BG product enables the beneficiary to have a unique repository of all the advised BGs in their favor.

Key features include

• Auto e-mail trigger
• e-guarantee list on the Trade Online platform
• Password protected attachment

Benefits:

• Vault of all advised BGs

• Beneficiary can view and download the cover message

• Real time intimation of issuance/amendment of the cover message.

Client needs to submit a one-page request letter for availing the given product offering.

Buyer’s Credit backed by the Standby Letter of Credit (SBLC) issued by ICICI Bank

Pursuant to the discontinuation of issuance of the Letter of Undertaking (LoU) by RBI for availing Buyer’s Credit, lender banks are permitted to take exposure in the form of direct Buyer’s Credit (BC) by way of an unsecured facility. However, this is not a cost effective solution for borrowers. Also, it exposes the BC lenders to a higher credit risk. Accordingly, to facilitate the working capital requirement of borrowers as well as to secure the Buyer’s Credit facility, ICICI Bank offers issuance of BG/SBLC for Buyer’s Credit for imports into India.

The BG/SBLC can be issued in favour of ICICI Bank Overseas Branches/other foreign Banks/overseas branches of Indian Banks for extending Buyer’s Credit to borrowers.