Seamless cross-border banking for global trade
Expanding into international markets requires secure and efficient solutions to facilitate trade activities. At Gibraltar International Bank, we offer specialised services to simplify complex cross-border transactions, reduce financial risks, and ensure seamless operations for importers and exporters.
Our Trade Services
Some of the Demand Guarantees we offer are:
- Port Guarantees
- Tender Guarantees (Bid Bonds)
- Performance Guarantees
- Custom Bonds
- Advance Payment Guarantees
- Retention Money Guarantees
Demand Guarantees
will provide you with assurance that you can meet your contractual obligations and enable you to demonstrate your financial credibility.
Standby Letters of Credit (SBLC)
Alternative to a Guarantee in some countries
Safeguard your international trade transactions with our standby letters of credit. These instruments offer a reliable way to minimise payment and legal risks, ensuring that your business deals are secure and transparent.
Let GIB help you build trust, manage risks, and unlock new opportunities in the global market.
Contact Our Trade Specialists
For tailored support with your trade needs,
contact your relationship manager or call us on 20013900 for more information
FAQs
Yes, Gibraltar International Bank offers Trade Services, including Demand Guarantees and Standby Letters of Credit, to support your business transactions.
Demand Guarantees secure payments, while Standby Letters of Credit support international trade.
Speak to one of our Business Relationship Managers on +350 20013900 or email gibraltar@gibintbank.gi to arrange an appointment and discuss trade services along with a Trade Manager.
A Demand Guarantee is a promise by the bank to pay a specified amount to the beneficiary upon demand, typically used to secure contractual obligations.
A Standby Letter of Credit is a similar instrument but acts as a secondary payment mechanism, ensuring payment if the applicant fails to fulfill their obligation.
The key difference lies in their usage: a Demand Guarantee is more direct and often used in international trade or contracts, while a Standby Letter of Credit is typically a backup payment option.
Gibraltar International Bank offers both Demand Guarantees and Standby Letters of Credit as part of its trade services. Below is a breakdown of the types:
Demand Guarantees:
Bid Bond Guarantee: Ensures the bidder will honor their bid and sign the contract if awarded, commonly used in tender processes.
Performance Guarantee: Secures the performance of a contract, ensuring the applicant fulfills their obligations, such as completing a project on time.
Advance Payment Guarantee: Protects the beneficiary if an advance payment is made, ensuring it’s refunded if the applicant fails to deliver as agreed.
Retention Money Guarantee: Replaces the need to hold retention money, guaranteeing the applicant will fix defects after project completion.
Maintenance Guarantee: Ensures the applicant will maintain or service the delivered goods or project during a specified period after completion.
Standby Letters of Credit:
Financial Standby Letter of Credit: Guarantees payment of a financial obligation, such as loan repayment or lease payments, if the applicant defaults.
Performance Standby Letter of Credit: Ensures the applicant performs non-financial contractual obligations, such as completing a construction project or delivering goods.
Commercial Standby Letter of Credit: Acts as a backup payment method in trade transactions, ensuring the seller gets paid if the buyer fails to settle the invoice.
Advance Payment Standby Letter of Credit: Secures an advance payment made by the buyer, ensuring a refund if the seller doesn’t deliver as per the contract terms.
Bid Bond Standby Letter of Credit: Supports a bid in a tender process, ensuring the bidder will sign the contract if selected.
If you would like to find out more about our trade services, you can contact your relationship manager or call us at 20013900 to arrange an appointment.
The fees for trade services are subject to negotiation. For further details, please consult the tariff guide or reach out to your relationship manager at Gibraltar International Bank.
Should you wish to explore more about our trade services, feel free to contact your relationship manager on +350 20013900 or email gibraltar@gibintbank.gi
Speak to us today
We’re here to help, get in touch to discuss your finances today.