What are performance guarantees?
ICIC specializes in issuing guarantees for transactions in Israel on the basis of the Directives of the Ministry of Finance and abroad with government ministries, government companies and related bodies. The service is intended for suppliers who carry out projects with government bodies, whether they are insured with ICIC or not, and is an alternative and an equivalent to bank guarantees.
ICIC issues all types of guarantees connected with transactions:
- Bid guarantee
- Advanced payment guarantee
- Performance guarantee
- Quality guarantee
- Tax guarantees
- Manpower guarantee
Highlights of the program
Providing guarantees by ICIC in the framework of its license.
Simple agreement which includes determining a line of guarantees and prices without any further cost
- Providing guarantees in Israel within a few days for any amount.
- Fronting solutions for guarantees abroad in the framework of the Allianz Trade. Allianz Trade is the trademark used to designate a range of services provided by Euler Hermes.
Advantages of receiving performance guarantees from ICIC
- Financial flexibility – receiving guarantees on the basis of the balance sheet strength while releasing a bank financing credit line at the disposal of the company for other uses, without being required to provide additional collateral.
- Attractive cost – the price of guarantees are competitive compared to the costs of banks guarantees.
- Rapid service – from the moment of providing a guarantee line, immediately issuing guarantees for significant amounts.
- Flexibility – adjusting the wording of the guarantees to the requirements of the beneficiary simply and in a short time.
- Accessibility – through the Euler Hermes Group, providing guarantees for various places in the world without difficulty.
- Efficiency – there are no related costs for providing the guarantee line and its non-utilization.