Guarantees

Direct guarantees or counter-guarantees
The Bank issues both direct guarantees and counter-guarantees

Direct guarantees are issued in favor of the Beneficiary without participation of other guarantor banks

Counter-guarantee is issued if the Beneficiary needs a guarantee of a first-class European (or any other) bank that issues its direct guarantee under the counter-guarantee of the counter-guarantee bank. Halyk Bank JSC will provide you counter-guarantee issue services, using its wide network of partner banks throughout the world

Halyk provides electronic bank guarantees via the following web portals:

- Public Procurement Portal
- Samruk-Kazyna portal
- SK-Pharmacy portal
- UNIFIED ENVIRONMENTAL PORTAL (MITWORK)

Benefits of e-guarantees 

- You save your time and money on the delivery of bank guarantee to the tendering authority
- You reduce the risk of rejection of a bid as a result of late submission of bank guarantee
- You avoid risk of issuing guarantee on a fake form

• Cash covered guarantees (except cash covered tender and blank tender guarantees) – 0.2% (min. 15 000 tenge/max. 150 000 tenge)
• Uncovered guarantees – 0.2%, min. 15 000 tenge/max. 150 000 tenge
• Cash covered tender guarantees - up to 100 000 tenge – 5 000 tenge; over 100 000 tenge – 0.2%, min. 10 000 tenge/max. 58 000 tenge
• Blank tender guarantees - up to 5 000 000 tenge – 1.75%, min 10 000 tenge; over 5 000 000 tenge – 1.5%
• Blank performance guarantees, calculated individually (min. KZT 5,000)

*Learn more about tariffs here

Tender guarantees secure obligations according to the bidding/tender documentation (for participation in a bidding/tender for the procurement and delivery of goods or services).

Blank tender guarantees are guarantees which are not secured by a Customer, and issued only for participation in a bidding or tender of public procurement or within the framework of purchases of JSC Samruk-Kazyna.

If blank tender guarantee is issued in the amount of: 

• up to 5,000,000.00 tenge: customer turnover is not to be taken into account).
• up to 15,000,000.00 tenge: 100% of average turnover in the Bank +50% of average turnover with other bank.
• Up to 30,000,000.00 tenge: 50% of average turnover in the Bank/BTG is not issued against the security of turnover with other bank.

Advantages: 

• minimum fees;
• guarantee is issued within one day;
• guarantees, including e-guarantees are issued in any of the bank’s branches;
• minimum documents

Currency: KZT

Maximum period: according to bidding/tender/auction documentation.

Maximum amount: 30,000,000 tenge

Tender Guarantee is a guarantee that secures the obligations of the bidder to the tendering authority according to the bid documentation

- Purpose: goods, works or services procurement tender held to determine the supplier of goods, works or services:
- Applicant: bidder who wishes to offer his goods, works or services
- Beneficiary: tendering authority
- Purpose: secure obligations of the potential supplier specified in the bid documentation
- Amount: 1% - 5% of complete tender
- Term: usually about 60 days from the date of opening of envelopes with bid proposals

Performance guarantee (post-tender guarantee) – guarantee securing fulfillment of the obligations of the Applicant under an agreement concluded at the close of bid /tender

- Applicable if there are procurement contracts concluded on the basis of bid/tender 
- Applicant: the winning bidder/tenderer with which the goods, works or services procurement contract was concluded
- Beneficiary: bidding/tendering authority who wishes to secure himself in case the Applicant fails to fulfill or improperly fulfill its obligations under the contract  
- Purpose: securing the obligations of the Applicant under the contract. Usually post-tender performance guarantees secure the obligations of the Applicant for the supply of goods, works and services and serves as security deposit.
- Amount: usually 1% - 5% of the total contract amount 
- Term – usually 15-30 days longer than the term of the contract or the final date until which the Applicant shall fulfill its obligations under the contract.
- Special terms: post-tender performance guarantee may be issued to secure obligations arising in the future (i.e. after the Applicant has been recognized as the winning bidder/tenderer, but before the conclusion of the procurement contract)

Payment guarantee (under contract) – is a guarantee securing the Applicant’s payment obligations under the contract

- Applicable if there are commercial contracts, agreements for works or services,
- Applicant: buyer of goods, works or services, payer, customer
- Beneficiary: seller of goods; contractor
- Purpose: secure the obligations of the Applicant to pay for goods received, work performed or services rendered
- Amount: the amount of the guarantee is determined by the terms of payment under the contract
- Term: usually 15-30 days longer than the due date under the conditions of the contract

Advance payment guarantee – a guarantee securing Applicant's obligations, whereby the guarantor bank undertakes to refund the buyer (Beneficiary) for the amount of the prepayment / advance payment transferred in favor of the Applicant, in case of non-fulfillment by the Applicant of their obligations to supply goods, works or services

- Applicable if there are commercial contracts, agreements for works or services and for the transfer of prepayment/advance payment
- Applicant: seller of goods, works or services, payer, customer
- Beneficiary: buyer of goods, works or services, payer, customer who want to protect themselves from the risk of not returning the prepayment/advance payment if the Applicant fails to fulfill obligations to deliver goods, perform works or provide services.
- Purpose: secure the obligations of the Applicant on the delivery of goods, performance of work or provision of services as part of a prepayment/advance payment made
- Amount: prepayment/advance payment amount according to the terms of payment under the contract payment terms  
- Term: usually 15 to 30 days longer than the duration of the contract or the final date until which the seller of goods, works or services must fulfill their obligations under the contract

Performance guarantee (under contract) – guarantee that ensures the obligations of the Applicant under the contract for the sale of goods, performance of work or provision of services (with the exception of contracts concluded on the basis of tenders)

- Applicable if there are commercial contracts, contracts for execution of works or provision of services
- Applicant: seller of goods; contractor
- Beneficiary: buyer of goods, works or services, payer, customer who want to protect themselves from the risk that the Applicant will not fulfill the obligations to deliver goods, perform works or provide services
- Purpose: secure obligations of the Applicant to supply goods, perform works, or provide services
- Amount: usually 1% - 20% of the total amount of the contract
- Term: usually, 15 to 30 days longer than the contract term, or the final date for the execution by the Applicant of the obligations in accordance with the terms of the contract.

Loan repayment guarantee - guarantee securing obligations of the Applicant to repay principal and interest

- Applicable to loan agreements
- Applicant: borrower under loan agreement
- Beneficiary: financial institution issuing loan / credit to the Applicant or opening a credit line to the Applicant, and thus willing to secure itself in case the Applicant does not repay the loan / repays the loan and/or does not pay the loan interest
- Purpose: secure the obligations of the Applicant to repay the loan and accrued interest
- Amount: loan principal or loan principal plus accrued interest
- Term: usually 15-30 days longer than the due date when the Applicant shall repay the principal amount and/or pay the loan interest

Performance guarantee (in favor customs authorities of Kazakhstan) – guarantee securing the obligations of the Applicant to pay customs payments

- Applicable for customs payments stipulated by the legislation of the Republic of Kazakhstan 
- Applicant: a party that is obliged to make customs payments, according to the legislation of the Republic of Kazakhstan
- Beneficiary: customs authorities of Kazakhstan
- Purpose: secure the obligations of the Applicant to pay customs payments provided for by the legislation of the Republic of Kazakhstan
- Amount: the amount of customs payment, which is payable according to the legislation of the Republic of Kazakhstan
- Term: usually 15 to 30 days longer than the due date when the Applicant must make customs payment

Performance guarantee (in favor tax authorities of Kazakhstan) – guarantee securing tax obligation of the Applicant to pay taxes and/or penalties.

- Applicable when tax/penalties due date is changed, in accordance with the Tax Code of the Republic of Kazakhstan
- Applicant: taxpayer who submitted to the tax authority a statement on the change in tax/penalties due date
- Beneficiary: tax authorities of Kazakhstan
- Purpose: secure the obligations of the Applicant to pay taxes and/or penalties provided for by the legislation of the Republic of Kazakhstan
- Amount: the amount of taxes and/or penalties payable
- Term: usually 15 to 30 days longer than the due date when the Applicant must pay taxes and/or penalties