Servicesfor individuals
Pension program
You do not have to queue on at the post-office or to wait for your pension at home for the whole day — we offer you to receive pension at PRAVEX-BANK. You have just to address the Bank and you will be able to receive pension at any time and any point of Ukraine.
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Bank guarantees and stand-by letters of credit
Documentary operations
For corporate clients
Types of bank guarantees
There exist the following types of bank guarantees:
- payment guarantees;
- chargeback guarantees;
- tender guarantees;
- performance guarantees;
- Guarantees of loans repayment;
According to the type of security, bank guarantees are divided into covered and uncovered:
- Covered guarantee - guarantee is issued under condition of transfer by principal of proper cash security to coverage account.
- Uncovered guarantee - guarantee is issued under condition of pledge provision by principal. Deposit, immovable property can be provided as a pledge. Other kinds of pledge - upon individual agreement.
Depending on the terms of demand for payment guarantees can be divided into conditional and unconditional:
- Conditional guarantee- guarantee, on which guarantor bank, in case of violation by principal of its liability, secured by guarantee, pays funds to beneficiary on the basis of beneficiary's demand and in case of its fulfilling of appropriate terms or presentation of documents, indicated in the guarantee.
- Unconditional guarantee- guarantee, on which guarantor bank, in case of violation by principal of its liability, secured by guarantee, pays funds to beneficiary on its first demand without presentation of any other documents or fulfilling of any terms.
Bank guarantees are issued both in foreign and in national currency within one year with the possibility of re-issuing.
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