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:

Requirements for principals – business activity for at least 12 months.

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 within 5 working days.

Fees for opening and maintaining guarantees are determined on a case-by-case basis.

Bank guarantee for tour operators and tour agents
Guarantee fee (counter-guarantee fee)/renewal of guarantee (counter-guarantee)
secured by cash on cover account – 1.5 % per annum over the duration of a contract (min. UAH 500); secured against proprietary rights to cash placed on a deposit account with a bank – 2.0 % per annum over the duration of a contract (min. UAH 500); unsecured – not applicable.
Consideration of payment request and payment under the guarantee (counter-guarantee)
0.2 % of the payment amount (min. UAH 1,000, max. UAH 5,000)
Change of conditions or cancellation of guarantee (counter-guarantee) (including its notification)
extension of the term - UAH 1,000; other changes - UAH 500

FAQ

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