Pankkitakaukset

Bank guarantee

Provision of collateral made simple

A bank guarantee is a commitment issued by OP on your company's behalf in favour of your domestic or foreign contractual partner, under which the bank as guarantor is committed to monetary compensation for the fulfilment of your company's contractual obligation. From your contract partner's perspective, receiving and managing a bank guarantee is easy.

  • Your company can use bank guarantees as collateral in various contractual relationships relating to the fulfilment of the parties' contractual obligations.
  • Bank guarantee can be given as collateral for a performance, payment of sales price, warranty period or meeting another contractual obligation. Such bank guarantees are called commercial guarantees.
  • You can also use a bank guarantee for fulfilling collateral obligations imposed by official regulations or legislation. Examples of such guarantees given to authorities include guarantees given to the National Board of Customs, guarantees referred to in the Package Travel Act or the Land Extraction Act and transport licence guarantees.
  • We also offer bank guarantees through our online service. It is a flexible and secure solution for applying for bank guarantees, enabling you to obtain up-to-date information on your company's guarantee portfolio.

To apply for a bank guarantee, go to our Corporate eServices using the link below. If your company is not yet a customer of OP, please contact your local member cooperative bank.

If your company has frequent guarantee needs, a bank guarantee limit is a flexible solution. You will save time and trouble when your company can apply for guarantees within the limit, without individual signatures or counter-obligations.

Between your company and OP, the issue of a bank guarantee is agreed upon in a bank guarantee counter-obligation. In the counter-obligation, your company commits to compensate the bank for everything the bank may need to pay under the bank guarantee it has issued. The counter-obligation also specifies the guarantee fee and other terms and conditions between your company and OP.

Bank Guarantee Online Service on Corporate eServices provides your company with state-of-the-art solutions for applying for and managing bank guarantees and for real-time information on your company's guarantee portfolio.

Your company can apply for bank guarantees easily, efficiently and securely. If needed, you can also attach electronic documents to your application. Through this online service, an application register is available to your company to monitor and manage guarantee applications. If needed, it is also possible to include an acceptance function of guarantee applications and guarantee commitment text in our online service, supporting your company's internal guarantee process.

The online service helps your company to be up to date at all times. On the service, we maintain a guarantee ledger needed by your company and an electronic archive for guarantee commitment texts.