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More About Bank Guarantees
Letter of Credit FCY issuance (FCY/LCY), Charges, Documentation charge - ₹1500 (if applicable)
Commission, Fedai charges * / IBA ** Min ₹2,000 ,
SWIFT/Courier, FCY - ₹ 2,000 SFMS / LCY - ₹1,000
Guarantee issuance (Financial, Performance), Charges, Documentation charge - ₹1,500 (If applicable)
Commission, 1.8% Per Annum, min ₹2,000
SWIFT/Courier, ₹1,000
*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.
Frequently Asked Questions
A Bank Guarantee is a guarantee issued by a bank on behalf of a customer, assuring a beneficiary that specified financial obligations will be fulfilled if the customer defaults.
A Bank Guarantee is a promise from a bank or financial institution that ensures the obligations of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it. It’s a safety net for the beneficiary, assuring they won’t suffer loss if the debtor cannot fulfil their obligations. It is commonly used in business transactions as a form of financial security.
To obtain a Business Bank Guarantee from HDFC Bank, submit a request at an HDFC Bank branch or online through the Wooqer link or TradeOnNet platform.
Yes, a Bank Guarantee can be cancelled. It expires if not invoked within the validity period, no amount is payable under it, or the original guarantee is surrendered to the bank.
Yes, Bank Guarantees expire. It expires if not invoked within the validity period, no amount is payable under it, or the original guarantee is surrendered to the bank.