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ICICI bank
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
e-Bank Guarantee (e-BG)
Key features
Auto email trigger
e-guarantee list on 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 cover message
Buyers credit backed by SBLC issued by ICICI Bank
Pursuant to the discontinuation of issuance of LoU/LuT by RBI for availing Buyers credit, lender banks are permitted to take exposure in the form of direct buyers 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 higher credit risk. Accordingly, to facilitate the working capital requirement of borrowers as well as to secure the buyers credit facility, ICICI Bank offers issuance of BG/SBLC for buyers 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 buyers credit to borrowers.
