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Details

  • Tender guarantee is a guarantee that secures the tender participant’s obligations to tender organizers in accordance with the tender documentation.

    • Scope of application– competitions and tenders for the procurement of goods, works and services, aimed at defining suppliers of goods, works and services
    • Applicant – participant of a tender or competition who is willing to offer his/her goods, works and services
    • Beneficiary – the organizer of the tender
    • Objective – to obtain security for the obligations, specified in the tender documentation, of the potential supplier
    • Amount is usually 1-5% of the total bid
    • Period of validity is usually 60 days from the date of the opening of envelopes with bid proposals
  • If you want to participate in tenders, then you should take advantage of QAZKOM’s “Risk tender guarantee against turnover” programme. You shall obtain a guarantee from reliable bank, as well as save your money and time!

    Benefits

    • Expeditious consideration of the application
    • No collateral required
    • Simplified scheme of consideration of the application
    • Flexibility to issue guaranties against turnover at QAZKOM, turnover in other second-tier banks or in the absence of turnovers

    Conditions

    • Purpose participation in a tender with intent to sell goods or to render services and works
    • Target audience: residents of the Republic of Kazakhstan credit turnovers at QAZKOM, as well as those who do not have turnovers: individual entrepreneurs; legal entities
    • Currency of guarantees: tenge
    • Maximum amount of guarantees
      - up to 15 000 000 tenge - against turnovers at QAZKOM
      - up to 5 000 000 tenge - without turnovers at QAZKOM and other second-tier banks
    • Maximum period of validity of guarantees: up to 100 calendar days
    • Maximum line term: 12 months
    • Access period: 9 months
    • Guarantee issue fee:  0%
    • Premium for risks associated with guarantees
      - against turnovers at QAZKOM – 1% of each risk tender guarantee’s amount, min. 10 000 tenge, max. 150 000 tenge (approved by the decision of the Retail Directorate №15-48 as of 24.06.2015)
      - in the absence of turnovers at QAZKOM and other second-tier banks – 2% of each risk tender guarantee’s amount, min. 10 000 tenge, max. 150 000 tenge (approved by the decision of the Retail Directorate №15-48 as of 24.06.2015)

    The given conditions have been in force since 05.10.2012. Conditions and tariffs may be changed unilaterally upon decision of the bank.

  • Guarantee of performance (post-tender guarantee) is the applicant’s guarantee securing obligations under the contract concluded in accordance with the tender’s outcome.

    • Scope of application: procurement contracts that are concluded in accordance with outcomes of tenders
    • Applicant: winner of a completion or tender, with whom the contract for procurement of goods, works or services was concluded
    • Beneficiary: organizer of a completion or tender who expresses a wish to protect himself/herself against failure to perform or improper performance of contractual obligations on the part of the applicant
    • Purpose: obtaining security for the applicant’s contractual obligations. Post-tender performance guarantees usually secure applicants’ obligations to supply goods, works or services, and are used as security deposits
    • Amount: usually 1-5% of the total sum of the contract
    • Period of validity: usually 15-30 days longer than the contract’s term or a final date until which the applicant must perform his/her contractual obligations
    • Special conditions: post-tender guarantee of performance of obligations that can be issued as security for future emerging obligations (i.e. after the applicant is declared winner of a tender or competition , but prior to the conclusion of the procurement contract)

    Guarantee of performance (under the contract) - guarantee securing the applicant’s contractual obligations for sale of goods or provision of services (excluding contracts that were concluded in accordance with the tender’s outcome).

    • Scope of application: trade contracts, contracts for the performance of works or for the provision of services
    • Applicant: seller, contractor or service provider that must deliver goods, perform works or render services according to the conditions of the underlying transaction
    • Beneficiary: buyer, orderer or party to which the services are provided. The beneficiary wants to protect himself/herself against failure to perform or improper performance of the obligation to deliver goods, perform works or render services on the part of the applicant
    • Purpose: to secure the applicant’s obligations to deliver goods, perform works or render services
    • Amount: usually 1-20 % of the total sum of the contract
    • Period of validity: usually 15-30 days longer than the contract’s term or a final date until which the applicant must perform his/her contractual obligations

    Guarantee of performance (in favour of customs authorities) - guarantee securing the applicant’s obligations to pay customs fees.

    • Scope of application: customs fees that are prescribed by the legislation of the Republic of Kazakhstan
    • Applicant: party obliged to make payments of customs fees under the law of the Republic of Kazakhstan
    • Beneficiary: customs authority
    • Purpose: to secure the applicant’s obligations to pay customs fees prescribed by the legislation of the Republic of Kazakhstan
    • Amount: amount of the customs fee which is payable according to the Law of the Republic of Kazakhstan
    • Period of validity: usually 15-30 days longer than the contract’s term or a final date until which the applicant must perform his/her contractual obligations
  • Guarantee of payment (under the contract) is a guarantee ensuring the payment obligations of the applicant under the contract.

    • Scope of application: trade contracts, contracts for the performance of works or for the provision of services
    • Applicant: buyer, payer, orderer, party to whom services are rendered
    • Beneficiary: seller, contractor, service provider
    • Purpose: to obtain security for the applicant’s obligations to pay for the goods received, completed works, services provided
    • Amount: guarantee’s amount is determined according to contractual payment terms
    • Period of validity: usually 15-30 days longer than the contract’s term or a final date until which the applicant must perform his/her contractual obligations

    Guarantee of payment (under the agency agreement on air transport services) – it is a guarantee securing the applicant’s payment obligations to transfer the funds, received for sales of transportation in accordance with the agency agreement, to the beneficiary.

    • Scope of application: agency, sub-agency agreements on sales of transportation
    • Applicant: agency, sub-agency, entrusted with the selling of transportation
    • Beneficiary: IATA (INTERNATIONAL AIR TRANSPORT ASSOCIATION), airlines, railway companies, which entrusted the applicant to sell their transportation services
    • Purpose: securing the applicant’s obligations to transfer the funds, received for sales of transportation, to the beneficiary
    • Amount: guarantee sum is determined by the agreement: it is typically the price of monthly, quarterly or annual volume of transportation, less commission agents’ or sub-agents’ commission fees
    • Period of validity: usually prior to the reporting date on which the beneficiary verifies the reception of the proceeds from transportation services, transferred by the applicant
  • Refund guarantee: guarantee securing the applicant’s obligations to deliver goods, perform works or render services, in the framework of the transferred advance payment.

    • Scope of application: trade contracts, contracts for the performance of works or for the provision of services
    • Applicant: seller, contractor or service provider that must deliver goods, perform works or render services according to the conditions of the contract
    • Beneficiary: buyer, orderer or party to which the services are provided. The beneficiary wants to protect himself/herself against non-recovery of the advance payment in the event that the applicant fails to meet his/her obligation to deliver goods, perform works or render services in accordance with the contract
    • Purpose: securing the applicant’s obligations to deliver goods, perform works or render services, in the framework of the transferred advance payment
    • Amount: advance payment sum is determined by the contractual payment conditions
    • Period of validity: usually 15-30 days longer than the contract’s term or a final date until which the applicant must perform his/her contractual obligations
  • Loan repayment guarantee: guarantee securing the applicant’s obligations to repay his/her loan’s principal debt and the interest.

    • Scope of application: loan agreements, debt contracts, agreements on credit line opening
    • Applicant: borrower
    • Beneficiary: financial institution that intends to grant the loan to the applicant or to open the credit line for the applicant, and at the same time willing to protect itself from failure to repay the debt or the interest accrued on the loan on the part of the applicant
    • Purpose: securing the applicant’s obligations to repay the loan and the interest accrued on the loan
    • Amount: the principal debt of the loan or the principal debt of the loan plus the accrued interests
    • Period of validity: usually after 15-30 days from the date, not later than which the applicant must repay the principal debt or the interest accrued on the loan
  • Foreign partners often require that Kazakhstani companies provide bank guarantees under contracts. And, as a rule, a guarantee of a prime bank is needed. The latter, in turn, are not ready to vouch for the Kazakhstani company. In order to meet the specified claim of the foreign partner and to make a bargain, Kazakhstani companies should apply to QAZKOM (the counter-guarantor bank) and to have it issue the counter-guarantee for the foreign bank (the guarantor bank).

    In contrast to the scheme of direct guarantees issue, which includes the participation of three parties (“the applicant - the guarantor bank – the beneficiary”), the scheme involving counter-guarantees entails that four parties participate in the deal (“the applicant – the counter-guarantor bank - the guarantor bank- the beneficiary").

    In this way, the counter-guarantee is a guarantee that is issued by the counter-guarantor bank upon the client’s request (the applicant), in favour of the guarantor bank. It provides a set of instructions as to provide a guarantee for the client, in favour of his/her foreign partner (the beneficiary), involving the obligation to pay the guarantor bank a sum of money upon a written demand for payment, in accordance with the conditions of the counter-guarantee.

    The given scheme is also applicable if you are the beneficiary of the guarantee, and you have doubts regarding the credibility of the guarantee issued by the bank that is servicing your partner (the applicant). In such an instance, QAZKOM can issue the guarantee in favour of your company after receiving the counter-guarantee from the counter-guarantor bank.