banker

Bank Guarantee / Standby Letter of Credit

Provide assurance and peace of mind to your beneficiaries

Bank Guarantee / Standby Letter of Credit

Provide assurance and peace of mind to your beneficiaries

At a Glance
Provide payment assurance to your benefciaries
user

An independent undertaking

Bank Guarantees are independent undertakings which help to mitigate payment risks for the beneficiary
Submit your application through any DBS branch, or DBS IDEAL

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Added assurance

We will pay to your beneficiaries upon receipt of a claim that complies with the terms of the guarantee

Easy collection

Pick up your bank guarantee from any of our DBS branches

Features & Benefits

Uses of Bank Guarantee / Standby Letter of Credit
1. Payment Guarantee - Protects the beneficiary if the applicant fails to honour the payment under their contract.
2. Bid Bond - Enables the applicant (bidder) to use DBS credit to support the bid. Can also be used to assure the successful bidder that the contract will be met.
3. Performance Bond - Some bidding contracts require the successful bidder to provide a performance guarantee to protect against a default.
4. Financial Guarantee - This helps the applicant’s overseas subsidiaries obtain financing or credit facilities from banks.

How it Works

bankers guarantee / standby letter of credit infographics

Fees

Refer to our pricing guide

Conditions of Guarantee
  • The Guarantee can be issued by DBS India or by our overseas branches/correspondents, according to the guarantee format provided by the applicant
  • Guarantees issued in favour of beneficiaries must be for a specific amount, expiry date and claim period
  • Guarantees should not be assigned to other parties
  • Guarantees are subject to Indian law and the jurisdiction of the Indian courts
Contact Us

Schedule a callback via this online form.

Alternatively, you can reach us at 1800 103 6500 / 1800 419 9500

Email: businesscarein@dbs.com

FAQs
Where do I find a Bank Guarantee/Standby Letter of Credit format?

The format is usually provided by the issuing bank or the beneficiary of the Bank Guarantee/Standby Letter of Credit. Alternatively, you may get a copy from your Relationship Manager or contact us at businesscareIN@dbs.com.

How long does it take to process a Bank Guarantee/Standby Letter of Credit?

We can process your Bank Guarantee/Standby Letter of Credit within 24 hours, provided the application and credit limit are in place.

Where do I collect my Bank Guarantee/Standby Letter of Credit?

You may collect it from any of our branches.

How to Apply

Simply submit your application form and a copy of the guarantee format at any of our Branches or via IDEAL™. Alternatively, please send us an email at BusinessCareIN@dbs.com and we will be glad to assist you.