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A guarantee (also called: loan guarantee) is a surety or guarantee granted by a bank on behalf of a debtor (= bank borrower) to a third party (= beneficiary; the debtor’s creditor). The surety is used for domestic transactions and the guarantee secures international business contracts.
Under the guarantee the bank is obliged to pay the open debt to the beneficiary if the debtor is in default.
In contrast to a loan, for a guarantee no money is provided for payment. The borrower benefits for a loan guarantee from the bank’s creditworthiness.
For you as a borrower this means protecting your liquidity whilst at the same time expanding your freedom for action. In addition, you strengthen the confidence of your business partner as a guarantee expresses high creditworthiness.
To provide a guarantee, commission must be paid and there is also a fee to issue the certificate.
The requirement for us issuing a guarantee to support your business activities, is an existing business relationship with SaarLB and a contractually agreed guarantee framework.
If you are not yet a SaarLB customer and are interested in the products of SaarLB, we would be delighted if our customer services staff can support you in achieving your plans. You will find contacts for various departments in our customer portal.