Banking guarantee for tour operators and travel agents

A banking guarantee of this type minimises the risk of default of the tour operator or tour agent under contract.

The main conditions for issuance of guarantees by Pivdenny Bank:

Maximum validity period of the guarantee – 63 months.

Currency of obligations – EUR equivalent.

Currency of payment under the guarantee – UAH.

Amount of the guarantee:

for tour operators:

  • EUR 10,000 for tour operators providing only domestic and inbound tourism services;
  • EUR 20,000 - for other tour operators;

for travel agents – EUR 2,000.

The guarantees are issued in paper form.

Collateral can be real estate; vehicles; goods in circulation; property rights to the funds on deposit accounts, etc.

Once the seller has submitted the full package of documents, the bank decides on the issuance of a guarantee with 100% cash couverage within 3 working days.

Bank guarantee for tour operators and tour agents
Guarantee (counter-guarantee) management commission:
- as a pledge of property rights on a physical person's deposit – in UAH from 1.80% per annum, in USD/EUR from 1.25% per annum;
- under 100% cash coverage or under the pledge of property rights for a deposit of a legal entity – in UAH from 2.90% per annum, in USD from 1.40% per annum, in EUR from 1.90% per annum;
- under other security/without security – by agreement.
Consideration of the demand for payment and execution of payment under a guarantee (counter-guarantee)
0.2% of the payment amount (min. UAH 1,000 - max. UAH 5,000)
Change of warranty conditions (counter-guarantee)
Increase of the term - 1,000 UAH;
increase of the amount - 0.2% of the increase amount (min 1,000 UAH - max 10,000 UAH);
other changes (including cancellation) - 500 UAH.

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