Counter guarantee
Counter guarantee is the process for Golomt Bank to issue a guarantee backed by a foreign banks guarantee. In other words, a guarantee is issued on behalf of a foreign client for a local client.
X
Who can issue counter guarantees?
- Business entities and enterprises that are interested in participating in public sector tenders,
- Foreign companies, EPC contractors, etc. interested in participating in projects and program implemented in Mongolia
Who requires counter guarantees?
- Public entities require bid guarantees issued by local commercial banks from any bidder.
- International development agencies require guarantees issued by local commercial banks from foreign and domestic contractors participating in infrastructure projects implementing in Mongolia.
- Private entities implementing projects, programs may request foreign contractors and sub-contractors to provide guarantees issued by local commercial banks.
Types of counter guarantees:
- Bid guarantee/online, paper/
- Payment guarantee,
- Performance guarantee,
- Advance payment guarantee
- Warranty guarantee etc. is issued in accordance to the bidder requests.
Scheme of counter guarantee issuance:
![Dotood batalgaa sxem eng]()
- Address: Head office of Golomt Bank, Trade and structured finance department
- Phone number: 7575 1111 /1554, 1380/
- Email: tf@golomtbank.com
This website uses google analytics
This website uses information gathering tool which is Google analytic in order to determine the effectiveness of our online campaign in terms of sales and user activity on our sites.