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The tender guarantee of benefits

Tender guarantee - a written guarantee, which gives the bank for the bidder. At the same financial institution warrants that such Party will perform its obligations under the rules of the competition.

Tender guarantee covers the following risks:

    waiver participant to perform its obligations under the supply and delivery of services;
    Review proposals, participating in the tender;
    refusal to the party for whom the guarantee was issued, the signing of the contract if it wins the tender.

Thus, the tender guarantee is for two main purposes: first, to ensure fulfillment of obligations to the winner of the conditions that were announced during the competition, and secondly, deny the possibility of participating companies are too small to cause doubts about the organizer.

For a tender guarantee lenders may require collateral. For the customer is established line of credit. As a rule, you must provide not only proof of the financial condition of the enterprise party, but also the rules of the tender.

Banking Commission for issuing a tender guarantee of 1%, depending on the period for which it is issued.

Most often, tender guarantee is required when a company participates in the tender for the supply of something or the provision of services to public bodies.

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Life and health insurance

Life and health insurance - a typical legal institution, time, agency or entity the contents of which are very clearly written, rich in actuarial, economic and financial activities. However, recently some people try to use it for operations, it is very similar to the monetary irregular deposit with partial redundancy. These attempts are very destructive and solvency of the traditional life and health insurance, as an institution and misled by those who consider themselves "insured depositors."
First of all, it is important to understand that the life insurance contract is not related to the monetary irregular deposit contract. Life Insurance - a contract rate at which one party, the insured (the policyholder) undertakes to pay a fee (premium), or the price of the operation, and in exchange for the other side, that is, the insurer (insurance company) agrees to pay a certain compensation in the event of the death of the insured or still alive at the end of the period specified in the contract. Thus, the fees paid to the holder of the policy is not fully available to him, but access to them is completely transferred to the insurer. Thus, all life insurance contracts contain the exchange of these defined benefit plans for the future, uncertain benefits (to payment under the contract depends on uncertain events, such as death or survival of the insured). For this reason, a contract of life insurance, savings equivalent to an act (in which the ownership of the real benefits and access to common property and the availability of future benefits) as the best savings. Such a contract creates an opportunity to get a significant amount when it enters into force, provided that the expected happens, uncertain event (eg death of the insured). In order to accumulate capital that the insurance company pays the death of any other traditional method of preservation (traditional surgery or credit) will require a long, measured over the years, a period of [continuous] savings. In other words, life insurance contracts on the basis of calculating the probability of mortality tables and survival, as well as on the principle of reciprocity, that is, the separation of losses among all insurance companies - clients of insurance companies have done very first time [after the conclusion of the contract], if the anticipated event, a significant amount of money the accumulation of other methods that will take many years to come.
In addition, life and health insurance is a long term contract in a difficult financial and insurance components, and requires a reasonable investment of significant resources. The availability of these resources goes to the insurer, who must collect [from insurers] are calculated mathematically and investment reserves needed for future payments on liabilities. These values ​​are called "mathematics" as they are obtained by calculating the probability of death and survival according to mortality tables, which are extremely reliable and have high resistance to the majority of Western countries. You can calculate the amount needed to pay for all of the guaranteed compensation, so that the probability of ruin was the lowest. Later, we consider the basic economic and financial differences between the contract of life insurance and baggage irregular fractional-reserve. In contrast to the life insurance contract does not allow the calculation of the probabilities of non-regular luggage, since the existence of the organization (bank based on a fractional reserve) and periodic mass withdrawal of deposits are not completely independent phenomena.
An additional complication is that some types of life insurance include the right of refusal. This means that insurers can cancel the contract and get cash mathematical resale value of their policies. Some theorists promote a position which is that the insurance policies, including the "purchase price" is very similar to the monetary irregular deposit contract with a partial redundancy. In contrast to this view, it is important to note that the presence (or absence) hidden in the luggage of an irregular ultimately depends on the true motives, goals (subjective reason) of the contract. If, as is typical for traditional life insurance, the client intends to maintain the policy until the expiration of his term and did not know that he may at any time to withdraw funds, the transaction is not obvious irregular baggage, and traditional life insurance contract. This type of insurance is sold bundled with the idea that a failure - a "last resort", that is a decision that is appropriate only in extreme necessity, when the family is unable to continue in full payment in accordance with the policy, which is essential for peace of mind all its members.
Nevertheless, we must recognize that (particularly) in recent years, banks and other financial institutions have made constant efforts to erase the basic, traditional distinctions and blurring the boundaries between life insurance contracts and bank deposits.
The market began to emerge of the true cash deposits under the guise of life insurance policies. The main tactic of sales is as follows. Clients report that they should not impose the burden of long-term savings, including scheduled payments, as the funds transferred to the insurance company can return at any time without penalty or cost (and sometimes with interest). One of the reasons why companies disguise these actions within the life insurance to take advantage of the traditional tax breaks that almost all governments in developed countries, provides insurance companies with regard to their beneficial impact on society at all levels, as they stimulate the activities of voluntary savings and prudence, and, therefore, a stable, noninflationary economic growth and development. Thus, large quantities of bogus transactions made "life insurance" is actually nothing more than disguised contributions, which makes the viewer with ease, given that this money if they need or simply have a desire to put them in a different financial institution can get back without penalty. All this gives rise to much confusion. For example, the numbers that correspond to operations not related to life insurance (bank deposits) were included in the official statistics collected premiums on life insurance, and amid much confusion, the traditional life insurance market had been discredited, and their definitions are fuzzy.
Fortunately, the restoration of a normal situation. And traditional private insurance companies and the authorities are beginning to realize that nothing causes more harm than life insurance blurring the line between him and bank deposits. This confusion is harmful for everyone, traditional life insurance, which has lost a lot of tax benefits, and are faced with increased interference and control by the central bank and state, and to customers who purchased life insurance, thinking that to make a bank deposit, and vice versa, and banks, which in many cases, the funds raised from the true contribution (under the guise of life insurance), and tried to put them in the long-term projects, thereby jeopardizing their ability to pay, and, finally, government oversight, gradually lost control of the institution of life insurance ( due to the gradual erosion of its definition), which was largely intercepted by another agency - the central bank. And the banks - it is an entirely separate type of institution, financial and legal frameworks, as we see, leaves much to be desired.

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Advance repayment guarantee

Advance payment guarantee (payment) - a guarantee providing the fulfillment of obligations of the Applicant to deliver the goods, works and services listed in the down payment. The guarantee is intended to use the advance payment in the spirit of the contract between the buyer and seller.
Advance payment must give the provider the means to, for example, to purchase materials and components to deliver the car to the place of manufacture, hire staff or to do other preparatory work. Since this warranty provides for the return of down payment, the seller in case of default of its obligations, it prevents a breach of contract.
Advance payment guarantee cease to have effect subject to the supply contract. Validity is usually from six months to a year.
Commercial contracts, contracts for works and services;
The seller, contractor or provider of services, which under the contract must make delivery, perform work or provide services;
The buyer, customer, or the party which provides services wishing to protect themselves against the risk of default down payment, if the applicant does not fulfill his obligation to deliver the goods, works or services in accordance with the contract;
Coverage of the Applicant to deliver the goods, works or services listed in the advance payment;
First, the amount of advance payment guarantee consistent, often reduced to the extent that the move operation is carried out or delivery. In the case of advance payment guarantee is necessary to consider two important features:
In order to eliminate the abuse of called guarantees, time of entry into force should be set in conjunction with the bank-guarantor. It requires only unambiguous, verifiable data bank.
Example: "This guarantee shall enter into force only after the amount of down payment in the amount of 100,000 francs for the benefit of the company X will come to us."
Often, the principal can achieve that the sum of the advance guarantees for the time is automatically reduced. This happens in particular when there is an agreement on partial deliveries and advance payment guarantee for a certain exposed part of the total order value. The volume reduction is, in principle, is focused on the progress of the implementation of the agreement. This reduces not only the amount of guarantee fees and costs. Relevant evidence may serve as a fulfillment of the relevant documents (eg, marine shipping documents), or the proper use of credit.
The simplest possibility is to establish a clear temporal digression, for example: "The guarantee amount is reduced every 6, 12, 18 and 24 months after entry into force each time by 25%."
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Guarantee of repayment

Guarantee of repayment

Guarantee repayment of the loan - a guarantee which is issued on behalf of the borrower's bank lender and the borrower provides the performance of its obligations under the loan agreement.

The purpose of the guarantee: the amount of guarantee ensures the return of principal, interest payments, penalties on the loan, provided by the creditor bank.

The main conditions:

     Deadline: usually up to 1.5 years;
     sum: in the amount of liabilities to repay the client of the principal amount, interest payments and penalties on the loan, provided by the creditor bank;
     Currency:  U.S. dollar, the euro;
     security: security is required, covering the amount of the guarantee. If necessary guarantees are made the main holding companies - asset owners and beneficiaries of revenue.

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Property insurance

Property insurance is a system of relations between the insured and the insurer to provide insurance services to the last, when the protection of property interests related to the possession, use and disposal of property.

    risk of loss (death), shortage or damage to certain property
    risk of liability for the obligations arising from injury to life, health or property of others, as well as in the cases provided by law, and liability under the contracts - the risk of civil liability

    the risk of losses from business activities due to violations of their contractors or the trader changes the conditions of this activity does not depend on the circumstances of the entrepreneur, including non-receipt of expected returns - business risk
Specific instances of insurance specified in the contract of insurance. The nature of insurance risk is established by agreement between the insured and the insurance agency.

    The total cost of damaged or lost as a result of an insured event the property or the cost of restoring damaged property;
    income (or parts thereof) that were not insured for damage to or loss of property resulting from an accident.
Insurance compensation is partial compensation for losses. Insurance reimbursement may not exceed the amount of damage to insured property insured or a third party, unless the contract of insurance does not provide for payment of insurance indemnity to a certain amount.
Climb to the insurer's liability for insurance claims is the existence of certain economic and legal consequences of injury, death or loss of insured property, ie, the presence of losses.
The sum insured - the insurance contract or a certain amount of money authorized for which the insurance value of the material. Within the limits of the insured amount the insurer agrees to pay when the insured event. The maximum sum insured is established by law: it can not exceed the actual (insurance) value of the property at the time of signing the contract. The sum insured shall not exceed the insured value of property insurance.
In property insurance, the insured amount is determined and stipulated in the contract of insurance.
If the insured amount corresponds to the insured value, the property is fully insured and losses are reimbursed in full. If the sum insured is less than insured value, compensation is paid within the sum insured. The cost of real estate, manufacturing, technology and office equipment is defined as:

    replacement cost, ie the amount required for the acquisition or manufacture of new objects of this kind and quality;
    actual (residual) value, ie replacement cost minus the cost of wear and tear;
    market value, that is, the selling price of the object.
The insurance value of the goods, raw materials, finished goods is determined on the basis of the amount needed to buy them.
If the sum insured exceeds the cost of insurance, the insurer must immediately demand a reduction of the sum insured, the insured value with a corresponding proportionate reduction in insurance premiums. In connection with the insurance contract null and void in that part of the sum insured exceeds the actual value of the property at the time of the contract. In this part of the higher paying the insurance premium is not refundable.
If you find that the insured amount is the result of fraud, the insurer, the insurer may require that the zero-force of the contract and damages in excess of the amount it received the award.
Insurance compensation - the amount of payments from the insurance fund to cover the damage to the property insurance and liability insurance of an insured for property damage to third parties. Insurance compensation can be equal to or less than the sum insured in the circumstances of the insured event and the conditions of the insurance contract.
The reason for which reimbursement is the conclusion of management at the fact and circumstances of the accident.
Adjusters - natural or legal person representing the interests of the insurance company to address the issues set forth in the claims of the insured in connection with the insurance case. Adjusters are inclined to agree with the insurer about the amount of insurance compensation to be paid on the basis of commitments страховщика.Обязанностьстраховых regulators - set (in connection with the insured event):

    Was it an accident;
    property insurer of the insured event;
    The nature and extent of the damage;
    causes and conditions of the insured event;
    the presence or absence of circumstances that determine the claims and defenses of the parties.
There are four ways to redress: refund, repair, replacement, restoration.
Text of the agreement usually gives the insurer the right to choose one or another form of compensation. The most commonly used form of money. The "natural" form of compensation is advantageous for use in these types of insurance, as insurance glass, automobiles, real estate.
To reimburse the customer must state a claim for membership in a timely and proper form. An insured event shall be documented. This requires documentation from the competent authorities (state control, finally, technical supervision, the appropriate emergency service, expert opinions, the decision to institute criminal proceedings, decisions or decisions, etc.). Documents confirming the existence of an insured event, its causes and the offender. You must provide the documents entrusted to insurance. Settlement of losses insured must ensure that:

    requirement applies at the time of registration;
    The plaintiff is a full insured;
    The insured event under the contract;
    The Insured shall take all reasonable steps to minimize the damage and the insurance is not intentionally;
    that all additional terms and conditions of the contract;
    none of the exclusions from coverage contained in the agreement does not apply to this insurance case;
    cost of damage is likely.
The basis for determining the amount of compensation is the fair value of insured property at the date of the loss.

    In the event of total loss or loss of insured property - an amount equal to the real cost of lost property at the date of the insured event minus the value of the remaining residues, suitable for use, but not exceeding the sum insured;
    when the insured property damage - equal to the cost recovery (repair) at the prices current at the date of the insured event, within the sum insured.
Complete destruction of property takes place, if the restoration costs exceed the actual cost of the insurance object immediately before the accident.
The cost of restoration and repair does not include costs associated with the changes, improvement, modernization or reconstruction of the object of insurance, support and prevention, as well as other costs not associated with the insurance case.
Double insurance - a variant of multiple insurance by several insurers of the same interest as compared to the same risks, when the total sum insured exceeds the insurable value of the object. The total amount of compensation may not exceed the amount of the loss suffered by the insured, regardless of the number of policies purchased. Different concepts of sets and double insurance. Repeated or additional insurance in case the public interest in the insured against the same risk for the same period, several insurance companies, and the total insured amount for all contracts shall not exceed the insured value of the object. Reinsurance is not prohibited by law.
If the fact of double insurance was opened up to the insured event, the total amount insured under the contract must be brought into line and do not exceed the insured value. At the same time, the insured may request that the sum insured under the contract, which was concluded later, was reduced with a corresponding reduction in premiums. The excess of the insurance premium paid is not refundable.
If the fact of double insurance was opened after the accident, the insurance is invalid in that part of the total insured amount exceeds the insured value. Insurers are obliged to pay compensation to the insurer, the total sum should not exceed the amount of damage. The amount of compensation paid by each insurer must be reduced in proportion to the initial reduction of the sum insured under the contract.
Rules determine the insurance, the insurer shall notify the insurer of all insurance contracts entered into in respect of the property insured with other insurance companies. In a statement the policyholder is liable for this question.
This provision may be introduced into the text of the insurance contract. In addition, he noted that the facts of double insurance insurance company is exempt from the obligation to pay compensation in accordance with this agreement.

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Integrated bancassurance

Comprehensive banking insurance is insurance of banks on the basis of criminal acts. Types of insurance coverage offered by Bankers Blanket Bond (BBB) ​​to compensate for losses from theft and fraud with respect to property located on conservation.
Insured risk factors for complex banking insurance:

disloyalty, abuse bank staff (use of forged documents, etc.);
theft of securities from the bank vault;
electronic and computer crimes;
professional responsibility of the bank's employees;
BBB have been developed to co-insurance policies that provide coverage of losses banks suffered as a result of fraudulent team or program into a computer system, the system of electronic transfer of money or the communication system of the bank, as well as providing cover losses the banks suffered as a result of the defeat of its computer system virus, or in cases where the transfer of funds was carried out by the bank of fraudulent orders, obtained by means of telephone or fax.
Initially, coverage of computer crimes has been developed as a separate insurance policy for which a separate aggregate limit was set coverage and premium. However, when this insurance product came to be regarded as part of a comprehensive program to combat crime, limits on insurance coverage of computer crime has become an integral part of the coverage limit is set at BBB, the insurance premium under the policy of computer crime was calculated on the basis of quotations for the BBB. Insurance policy against computer crimes and BBB issued by one insurer. Otherwise, if the policyholder will suffer a great loss, which falls under the cover and the BBB and the insurance policy against computer crime, there can be serious disputes between insurers for compensation.

What are the conditions for the issuance of bank guarantees and how they can get?

What are the conditions for the issuance of bank guarantees and how they can get?

Bank guarantee is an additional tool to fulfill the obligations under the contract. Simply put, it's kind of the way the creditor, not sure about the solvency of the borrower, to protect themselves against default by the debtor to pay the debt. In this case, the lender pays a fixed amount the bank. This is a lucrative way of reducing risks to zero during the transactions.

The bank guarantee is a deal (which is regulated by civil law) and banking (governing bank laws and regulations). Issuance of bank guarantees is made in the provision of the appropriate organization of the necessary documents.
The procedure for issuing a bank guarantee

Thus, the subject composition of a bank guarantee to guarantee, the principal and the beneficiary.

Guarantor - a person who issues a written document, which contains the commitment to pay a sum of money.

Principal - is the debtor of the obligation.

Beneficiary - a creditor of the principal, in his favor given the guarantee.

Can act as guarantors of banks, credit institutions and insurance companies. The bank guarantee is issued at the request of the principal guarantor. The meaning of guarantees is that it provides the proper performance of obligations to the debtor by the creditor. The order of issue is quite simple: the principal guarantor of the agreement concluded with the issuance of bank guarantees, pursuant to which the bank issues a guarantee for certain conditions. For providing the guarantee the guarantor shall pay to the principal payment.
Conditions for issuing a bank guarantee

Conditions for issuing a bank guarantee are defined in the Agreement, which entered into between the guarantor and the principal. Also, the Agreement establishes the procedure for issuing a bank guarantee, the guarantor and the principal settlements on the first payment of remuneration, the right of recourse to the guarantor of the debtor, the scope and implementation. In order to obtain a bank guarantee, you need to know how much money will need to ensure that the transaction, as well as an understanding of the conditions of the beneficiary, if these conditions are. Next, you need to collect documents for submission to the bank or credit institution. Each bank is different this package, it largely depends on what the base monetary obligation of the debtor to the creditor.

But mandatory are the following items:

    opening a bank account;
    welfare and security;
    provision of financial statements.

A prerequisite for obtaining a bank guarantee is to provide a guarantor of the financial condition of the principal. That's what is necessary to collect all necessary and requested by the bank or credit institution documents.

Assistance in obtaining bank guarantee

At the present time in order to obtain a bank guarantee, does not necessarily apply to the bank. Assistance in obtaining guarantees can provide the operating companies, which have obvious advantages. For example, when referring directly to the bank, you can expect a warranty for 2 or 3 weeks, you also need to collect documents that are required for the loan. When you work with the operating company to open account, to provide collateral and security, as well as to collect a large set of documents is not required. The very same bank guarantee is subject to satisfactory due diligence will be available within 3-5 working days from the date of submission of documents.