Guarantees represent an security instrument by which the bank by order and on behalf of it’s client undertakes to pay at the request of beneficiary a certain amount if client fails to fulfil his obligation of payment or acting within contracted deadline.

RAZVOJNA BANKA VOJVODINE a.d. Novi Sad issues all types of bank guarantee as security instrument of international payment transactions, such as:

• Payment guarantee
• Guarantee for loans
• Advanced payment guarantee
• Performance guarantee
• Bid (tender) guarantee

The Bank applies the standard models form of garantees, which are taken from the publication URDG, ICC 758, where the same and adapts to the needs and demands of clients, as for participants in a particular commercial business in accordance with business policies of the RAZVOJNA BANKA VOJVODINE a.d. Novi Sad.

RAZVOJNA BANKA VOJVODINE a.d. Novi Sad dealing with loro guarantees provides the following services:

• Advising of loro guarantees according to the instructions of bank that issued the guarantee
• Consultation in the creation of protest and transtmission of protests under loro guarantees