From January 1, 2006 to June 1, 2006, CONVERSBANK MOSCOW, incorporated into the CONVERSBANK international financial group, provided its clients with 119 banking guarantees worth R515.5 million, up 850% year-on-year. CONVERSBANK’s guarantee portfolio now breaks down into customs, contract and tender guarantees. Guarantees are provided for a term of up to one year. The size of commission depends on security proposed. Fixed assets, immovables, vehicles, marketable goods and bills are considered as collateral. Considering specific features of a deal, CONVERSBANK secures direct guarantees provided by top foreign banks with its own counter-guarantees.
Source: BANKIR.RU, May 31, 2006
