What is a bank guarantee?
You can apply for a bank guarantee if
your company has obligations towards a third party for which funds
need to be blocked in order to guarantee that your company fulfils
its obligations (for example carrying out certain works, payment of
a debt, etc.).
By means of a bank guarantee, ING backs up your
company's solvency with its own. ING pays the sum demanded from its
own assets.
Your company does not have to deposit funds to
guarantee the fulfilment of the obligation.
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