When you’re running your own business, you might have the opportunity to take on a large contract, move to new premises or even invest in new equipment. These opportunities can be fantastic for your business, but at the same time they can add a bit of pressure to your cash flow.
A Bank Guarantee is a surety given in writing by a bank to a third party (the 'beneficiary') who is owed money by the bank's customer, to guarantee the payment will be made.
Take advantage of new business opportunities, whilst keeping your working capital free. You can use a Bank Guarantee:
You can apply for a Bank Guarantee for any amount to help your business grow. If you’re eligible, your guarantee will be for a nominated amount, and only the beneficiary (your customer or supplier) can demand the payment.
To find out if a Bank Guarantee can help your business to take on new challenges and opportunities, Small Business Specialists today on 13 7000.
Things you need to know: