Special guarantee requirements abroad
For foreign transactions, indirect guarantees – for example a performance bond – are often demanded from the buyer's side. Please note our explanations of indirect guarantees. As the party carrying out a sale, for your part you would also like to know that the payment for your delivery is secured by a Swiss bank, i.e. via an indirect guarantee. For guarantees in your favour, please involve us as soon as possible. We can then give you the names of the banks and the countries through which we can set up a guarantee in your favour. We can also give you information on costs – even if they are to be paid by your client – and possible durations. We're here to answer your questions.
As a rule, government bodies only accept locally issued guarantees. Often, the guarantees must also be for an unlimited duration. The counter-liability of UBS under its counter-guarantee is thus also unlimited in time.
Special textual provisions
Beneficiaries – especially government bodies - require often specific guarantee texts. Also the wording of the counter-guarantee that UBS has to give to the instructed bank is very often specifically prescribed. Therefore, there may be clarifications and delays in executing a guarantee order.
Refers to the time limit of UBS's counter-guarantee to the local bank if no direct guarantee could be set up.
We may dispose of information for specific countries regarding wordings required for counter-guarantees. However, practices and textual provisions can vary from bank to bank within a given country. In certain countries, banks are unable to do business due to UN sanctions, etc.
For additional information, please contact your guarantee specialist.
Products and services in these webpages may not be available for residents of certain nations. Please consult the sales restrictions relating to the service in question for further information.
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