Guarantees

    A Guarantee is a commitment to fulfill a guarantee of an obligation without having to advance any amount to the payee.

    In this operation there is no payout from Bankia, although there is a formal commitment in the event of non-compliance.

    We guarantee that you will comply with your commitment.

    The guarantee can have a maturity date (nominal or effective) or be indefinite.

    There are different types of guarantee, which we will detail below:

    • Technical Guarantees: Bankia responds to non-compliance with the commitments non-financial that your company has acquired, such as the participation in tenders and auctions, the performance of machinery, tender bonds, executions of works or supplies, or appeals lodged before the Administration.
    • : When it comes to economic guarantees, we can distinguish between two categories. On the one hand, we have those that guarantee payment for a purchase of all kinds of goods in the internal market, tax payment instalments, amounts paid early, customs obligations, the Treasury, courts, and with other public bodies. On the other hand, we have those that guarantee the repayment of loans, credit or any other kind of credit facility that you can have with third parties.

    Guarantees are normally payable on first demand.

    At Bankia, we can offer you guarantees around the world. With us, you can manage your national and international operations.

    The parties involved in Guarantee operations are the following:

    • Bankia as a Guarantor
    • You as a Guarantee holder
    • Beneficiary of the Guarantee, the person or company with whom the agreement is made.

     

    Advantages

    We offer you a Guarantee for all of your needs. This means that, with us, you can contract the product that is best adapted to your needs.

    A guarantee means that your compliance with contractual obligations is guaranteed, without having to advance funds.

    We have the most advanced means for issuing guarantees in the shortest time possible, making your business operations smoother and giving you security in your commercial transactions.

    Guarantees issued by Bankia are renowned both nationally and internationally.

    The cost of requesting and obtaining a guarantee is normally less than that of requesting a loan or tying up equity.

    We offer you a guarantee for all of your needs. A guarantee from Bankia will make your business transactions with third parties smoother.

    If you need more information get in touch with us and we will give you the advice you need.

     

    Frequently asked questions:

    What is the term of a guarantee?

    A guarantee can have effective or nominal maturity, or it can be indefinite.

    In the event of having nominal maturity, it is required that the same one is returned for the cancellation of the guarantee, whereas the effective maturity, arrival the maturity date, the guarantee is considered cancelled to all intents and purposes.

    What fees come with a guarantee?

    Fees applicable:

    • Opening the operation: a single payment when the operation is formalised, calculated as a percentage of the amount requested.
    • The formalisation or delivery of the guarantee: a single payment when the guarantee is delivered, calculated as a percentage on the quantity of the guarantee.
    • The risk: periodical quarterly payment, calculated as a percentage on the guaranteed amount until the guarantee is cancelled.

    With guarantee lines, a quarterly availability fee is applied to the average unspent balance of the line of guarantees granted.

    Can I request a pre-guarantee?

    Yes, if you need a pre-guarantee, Bankia can offer you this document. The document details your favourable disposition for the emission of a definitive guarantee.