banker

Bank Guarantee / Standby Letter of Credit

Provide assurance and peace of mind to your beneficiaries

Bank Guarantee / Standby Letter of Credit

Provide assurance and peace of mind to your beneficiaries

At a Glance
Provide payment assurance to your benefciaries
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An independent undertaking

Bank Guarantees are independent undertakings which help to mitigate payment risks for the beneficiary
Submit your application through any DBS branch, or DBS IDEAL

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Added assurance

We will pay to your beneficiaries upon receipt of a claim that complies with the terms of the guarantee

Easy collection

Pick up your bank guarantee from any of our DBS branches

Features & Benefits

Uses of Bank Guarantee / Standby Letter of Credit
1. Payment Guarantee - Protects the beneficiary if the applicant fails to honour the payment under their contract.
2. Bid Bond - Enables the applicant (bidder) to use DBS credit to support the bid. Can also be used to assure the successful bidder that the contract will be met.
3. Performance Bond - Some bidding contracts require the successful bidder to provide a performance guarantee to protect against a default.
4. Financial Guarantee - This helps the applicant’s overseas subsidiaries obtain financing or credit facilities from banks.

How it Works

bankers guarantee / standby letter of credit infographics

Fees

Refer to our pricing guide.

Conditions of Guarantee
  • The Guarantee can be issued by DBS India or by our overseas branches/correspondents, according to the guarantee format provided by the applicant
  • Guarantees issued in favour of beneficiaries must be for a specific amount, expiry date and claim period
  • Guarantees should not be assigned to other parties
  • Guarantees are subject to Indian law and the jurisdiction of the Indian courts
Contact Us

Schedule a callback via this online form.

Alternatively, you can reach us at 1800 103 6500 / 1800 419 9500

Email: [email protected]

FAQs
Where do I find a Bank Guarantee/Standby Letter of Credit format?

The format is usually provided by the issuing bank or the beneficiary of the Bank Guarantee/Standby Letter of Credit. Alternatively, you may get a copy from your Relationship Manager or contact us at [email protected].
How long does it take to process a Bank Guarantee/Standby Letter of Credit?

We can process your Bank Guarantee/Standby Letter of Credit within 24 hours, provided the application and credit limit are in place.
Where do I collect my Bank Guarantee/Standby Letter of Credit?

You may collect it from any of our branches.
How to Apply

Simply submit your application form and a copy of the guarantee format at any of our Branches or via IDEAL™. Alternatively, please send us an email at [email protected] and we will be glad to assist you.

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