If your company, your George Business license and your user role permissions fullfill all necessary requirements, you will find the Bank Guarantees menu in the Trade Finance section of your George Business left side navigation.
Issued Bank Guarantees
Last Article Update 10.03.2025
What is a Bank Guarantee?
A bank guarantee in trade finance is a written commitment issued by a bank on behalf of a customer, promising to fulfill the financial obligations to a third party (usually a seller or beneficiary) if the customer fails to meet its contractual obligations. It acts as a form of insurance, ensuring that the beneficiary will be paid a specified amount in the event of non-performance or default by the customer.
Bank guarantees provide security and confidence to parties involved in (international) trade transactions, reducing the risk of payment defaults and enhancing the overall trust in the trade process.
Overview of your issued bank guarantees
When opening the Guarantees section via your George Busines left side main menu, George will lead you to the list of your existing issued gurantees.
You will find the beneficiary, reference number, expiry date and amount of each guarantee. A search and filtering function will help you find any specific issued guarantee.
Download and print your bank guarantees
On top of your issued bank guarantees list you can find the options to sort them (e.g. ascending or descending) as well as to download/export your guarantees. You can either download all guarantees as a .csv file or only the search or filter results within your issued guarantees.
As you can find a print icon in the list of created bank guarantees, it is also possible for you to print them. With one click, you can open the filtered guarantees in an additional tab and print them directly.
In the download/export menu, George will offer you a lot of options about what details to include in the exported file.
Guarantee details and change requests
Next to each guarantee you find the option to open its details as well as (behind the 3 dots) to request changes to the existing guarantee. Of course, you can also request a change directly from the guarantee's detail page.
Create a new bank guarantee
On top of your issued guarantees page you find the button to create/apply for a new guarantee. Gorge Business will then guide you through 5 steps to complete a new guarantee order.
For more information on how to apply for new bank guarantee, please click here.
Order list and signature folder
The Guarantees section in the Trade Finance menu comes with its own order list where George shows you all open, executed, rejected and signed guarantee orders.
In the section's signature folder, you will find all completed guarantees that are ready to be signed by the responsible user.
Author: Dag Erik Zimen