Guarantees and Documentary Operations
Purpose: to provide Bank Guarantees of the client's obligations toward a third party.
Amount: determined by the document (contract) between the client and third party (or tender documentation).
Maturity: based on the request of the Guarantee.
The frequently used types of Guarantees are: Payment Guarantee, Custom Guarantee, Tender Guarantee (bid), Warranty Guarantee, Retention money Guarantee, Performance Guarantee, Advance Guarantee and Credit repayment Guarantee.
All legal entities and entrepreneurs registered in Montenegro.
Product price is determined on the basis of economic and financial analysis of the company, credit history, turnover on the account with Nova Banka, collateral quality and value.
Bills of exchange and authorization
Authorization of collection right
Pledge on movables
Assignment of receivables
Deposit (Cash collateral)
How to apply for a guarantee?
The SME loan application, along with the necessary documentation, should be submitted to a SME Relationship Manager. Upon the completion of the decision-making process, the SME Relationship Manager will inform the client whether the application has been approved and upon which terms and conditions.