Bank guarantees

We understand the importance of a reliable and regulated partnership with business partners at home and abroad. Therefore, we offer several types of bank guarantees which significantly improve relations with your suppliers and customers and speed up and ensure payments, delivery and quality.

What is a bank guarantee?

A bank guarantee ensures the timely payment of goods and services or the performance of contractual obligations.


This instrument guarantees the performance of a contract, protecting the interests of the principal (the buyer/agent) and the customer (the seller/client). This means that your business is protected against unforeseen costs and delays.


What if one party does not respect the terms of the agreement?

The guarantee holder is protected from the other party’s failure to meet contractual obligations (payment or delivery of services). For example, if the buyer fails to meet his/her contractual obligations, ProCredit Bank executes the payment at the seller’s request upon presentation of the documents referred to in the text of the warranty. If the terms have been fulfilled, then payment is performed immediately (within five working days).


The principal guarantee is protected from unfounded activation of the guarantee. If the beneficiary of the guarantee does not deliver the goods or services in accordance with the contractual terms, he/she will not be able to submit the documents confirming the delivery, quality or quantity of the delivered product or service, and will not receive payment.



What kind of bank guarantee should I use?

You can use one of the following bank guarantees:






Payment guarantee


Secure payment or delivery of goods



No more than the amount stated in the agreement, which is a basis for issuing a guarantee



Within the validity on the proforma invoice, contract or order + deferred payment period

Tender guarantee




Ensure the fulfilment of contractual obligations arising from public procurement (tender)



2- 10% of the bid, depending on the amount of the offer



No longer than the validity of the tender, extended to allow for a complaint period (min. 14 days)



Advance payment guarantee




Secure the advance supplied by the beneficiary of the guarantee to the debtor of the guarantee



The amount of the issued advance or an amount lower than the issued advance



Until delivery/performance of the goods/service or shortly afterwards

Performance guarantee




Secure a timely and quality performance of the agreement



5-15% of the amount stated in the agreement



Until fulfilment of the obligations stated in the agreement



Guarantee on a guarantee period




Provide funds to remedy the shortcomings of improperly performed contractual work



5-20% of the amount stated in the agreement



Until the fulfilment of the guarantee period



Customs guarantee




Secure a debt which has arisen or could have arisen during the following customs procedures: release of the goods into free circulation, customs storage, import for refinement, processing under customs control, temporary import, export for refinement, export and temporary storage





***In addition to the criteria in this table, the amount and the validity of the guarantee are affirmed according to the decision of the lending committee of ProCredit Bank AD


Is ProCredit Bank rated by an international ratings agency?

ProCredit Bank is the only bank in N.Macedonia with a Fitch Rating of BBB-. This rating can be communicated to your business partners in Macedonia and abroad. ProCredit Bank AD Skopje is the only bank on the market with international credit rating from Fitch Ratings and has the highest possible rating a company can have in R.N.Macedonia.


How can I apply for a bank guarantee?