Bank Guarantees on ProcureDeck allow banks to issue and manage financial guarantees that secure trade
transactions between buyers and suppliers. These instruments reduce counterparty risk by ensuring that obligations
will be met - whether it’s payment for goods, performance of services, or return of advance funds.
Bank Guarantees can be issued on behalf of either party, depending on the structure of the trade agreement.
The platform supports multiple types of guarantees, including:
Assure the supplier of payment in case the buyer defaults.
Assure the buyer that the supplier will fulfill contractual obligations.
Protect buyers when prepaying for goods or services.
Ensure suppliers follow through if they win a procurement bid.
In some cases, such as when a buyer is classified as Tier 3 on ProcureDeck, the platform will require them to procure a payment guarantee before the supplier proceeds. This gives suppliers greater confidence in fulfilling orders, especially when working with less-established buyers. Banks can issue and monitor these guarantees with full trade visibility, linked directly to relevant POs and contracts in-platform.
Issue structured guarantees tied to verified transactions on the platform.
Reduce exposure and enable high-value trade across various risk profiles.
Digitize guarantee workflows with audit-ready tracking and documentation.
Use bank guarantees to unlock supply even with limited credit history.
Improve trust with suppliers by offering payment-backed comfort instruments
Reduce counterparty risk when working with new or lower-tier buyers.
View, verify and manage guarantees directly within ProcureDeck.
Issue, manage and verify payment and performance guarantees for buyers and suppliers - with full trade context and platform enforcement.