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.
