CNCredit Financial Institution
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Financial Guarantees Center

Financial guarantees for tenders, contracts and commercial obligations

CNCredit provides guarantee solutions for companies participating in tenders, performing contracts, receiving advance payments, providing warranty periods for completed works, carrying out customs operations or needing to secure payment obligations. Choose the guarantee type that best suits your business.

View guarantee types Request an assessment
One form For all guarantee types
Individual assessment Based on the contract and the company profile
Standard or special wording Subject to legal and risk assessment

What is a financial guarantee?

A financial guarantee is a commitment issued in favour of a beneficiary to cover the risk that a company may fail to fulfil obligations undertaken through a bid, contract, advance payment, warranty period, customs operation or another commercial relationship.

In practice, guarantees strengthen trust between the parties and allow contracts to proceed without fully tying up the company’s liquidity. The guarantee type, amount, duration and applicable wording must correspond to the obligation the beneficiary intends to secure.

CNCredit assesses each request based on the contractual documentation, exposure amount, guarantee duration, applicant’s financial profile, transaction structure and beneficiary requirements.

CNCredit guarantee types

The CNCredit portfolio covers the most common guarantee needs in tenders, public and private contracts, construction, infrastructure, energy, industrial and service projects, and international commercial operations.

What type of guarantee are you looking for?

Select the situation relevant to your company and go directly to the corresponding information.

Bid Bond Performance Bond Maintenance Bond Advance Payment Bond Retention Bond Customs Bond Payment Bond Tailored Guarantee
Preparing documentation for tender participation Bid Bond

Bid guarantee

A bid guarantee is used in public or private procurement procedures to confirm the bidder’s commitment and compliance with the obligations undertaken in the bid.

It may cover the risk of bid withdrawal, refusal to sign the contract or failure to provide a subsequent guarantee where the tender documentation requires such obligations.

Frequently used for: public tenders, private procedures, concessions, supply, services and works.
  • procedure documentation or invitation to participate;
  • required amount and validity period;
  • beneficiary-required wording, if any.
Request a bid guarantee
Contract project during the performance stage Performance Bond

Performance guarantee

A performance guarantee protects the beneficiary if the contractor fails to properly fulfil the obligations set out in the contract.

It is mainly used after a contract is awarded and may cover obligations concerning deadlines, quality, quantity, technical specifications and other essential performance conditions.

Frequently used for: construction, infrastructure, energy, services, supply, EPC projects and public contracts.
  • signed contract or draft contract;
  • contract value and guarantee percentage;
  • performance schedule and contract duration.
Request a performance guarantee
Technical inspection during the warranty period for completed works Maintenance Bond

Maintenance guarantee

A maintenance guarantee is used when the contractor must provide a warranty period for completed works, installed systems or supplied equipment.

It may cover post-acceptance obligations relating to the correction of defects, workmanship issues, non-conformities or other problems identified during the warranty period.

Frequently used for: construction, infrastructure, installations, industrial projects, equipment and technical works.
  • acceptance report or acceptance conditions;
  • warranty period;
  • remedial obligations under the contract.
Request a maintenance guarantee
Advance payment for performing a contract Advance Payment Bond

Advance payment guarantee

An advance payment guarantee covers the risk associated with amounts paid in advance by the beneficiary and may secure their recovery if contractual obligations are not performed under the agreed conditions.

It is frequently used for mobilisation, material procurement, production-capacity reservation or financing the initial stages of a project.

Frequently used for: works, equipment, supply, industrial projects and contracts involving advance payments.
  • advance amount and recovery method;
  • contract and payment schedule;
  • conditions for reduction or expiry of the guarantee.
Request an advance payment guarantee
Release of retained amounts under a contract Retention Bond

Retention guarantee

A retention guarantee may replace contractual retentions with a guarantee, supporting the company’s liquidity and cash flow.

It is relevant where the beneficiary retains a percentage of invoices until final acceptance, expiry of the warranty period or fulfilment of other conditions.

Frequently used for: works contracts, construction, installations, infrastructure and long-term projects.
  • retained percentage and accumulated amount;
  • conditions for releasing the amounts;
  • duration of post-performance obligations.
Request a retention guarantee
Import, transit and customs formalities Customs Guarantee

Customs guarantee

A customs guarantee is intended for economic operators that must secure taxes, duties, excise duties or other obligations toward customs authorities.

It may be used for individual or recurring operations, depending on the customs procedure, type of goods, amount of the obligation and requirements of the competent authority.

Frequently used for: import, export, transit, customs warehousing and international commercial operations.
  • type of customs procedure;
  • amount of the guaranteed obligation;
  • documents required by the customs authority.
Request a customs guarantee
Payment obligation in a contractual relationship Payment Guarantee

Payment guarantee

A payment guarantee secures payment obligations undertaken in a commercial relationship and provides the beneficiary with additional protection.

It may be used in supply, service, lease, distribution or operating lease contracts and other relationships where payment must be secured when due.

Frequently used for: supply, recurring services, leases, distribution and contractual payment obligations.
  • contract and payment schedule;
  • maximum guaranteed amount;
  • payment terms and relevant due dates.
Request a payment guarantee
Complex project requiring a customised guarantee Tailored Guarantee

Special guarantees

Special guarantees are assessed for contractual situations that do not fit a standard format or involve wording imposed by the beneficiary.

They may include non-standard structures, multiple obligations, special performance conditions, different periods or requirements specific to a jurisdiction or industry.

Frequently used for: complex projects, international contracts, customised wording and non-standard obligations.
  • complete wording requested by the beneficiary;
  • main contract and relevant annexes;
  • clear description of the guaranteed obligation.
Request assessment of a special guarantee

Sectors in which financial guarantees are used

Guarantees can be used across a wide range of sectors, from construction and infrastructure to technology, logistics and international trade.

🏗️

Construction

Residential, commercial and industrial works, installations, general contracting and subcontracting.

🛣️

Infrastructure

Roads, bridges, railways, airports, utilities and other public or private investments.

⚡

Energy

Photovoltaic and wind projects, networks, electrical installations and EPC contracts.

🏭

Industry

Factories, production lines, installations, technical maintenance and specialised equipment.

🚚

Transport and logistics

Logistics services, transport, warehousing, terminals and operating contracts.

💻

IT and telecommunications

Software implementations, digital infrastructure, equipment and technology services.

🏥

Healthcare and equipment

Supply of equipment, consumables, services and projects for the healthcare sector.

🌍

Import and export

Customs operations, transit, international supply and cross-border commercial obligations.

How do you choose the right guarantee?

The guarantee type is primarily determined by the obligation the beneficiary intends to secure.

Company situationGuarantee type generally used
You are participating in a tender or competitive procedureBid guarantee
You have won the contract and must guarantee its performancePerformance guarantee
You must provide a warranty period for completed worksMaintenance guarantee
You receive an advance payment from the beneficiaryAdvance payment guarantee
The beneficiary retains part of the invoicesRetention guarantee
You carry out import, transit or other customs operationsCustoms guarantee
You must secure a contractual payment obligationPayment guarantee
The beneficiary requires non-standard wording or structureSpecial guarantee, assessed individually

How the CNCredit process works

All requests are submitted through a single form, and the guarantee type can be preselected directly from this page.

1

Choose the guarantee

Select the type corresponding to the contractual obligation.

2

Complete the form

Enter the company details, amount, duration and beneficiary.

3

Upload the documents

Submit the contract, financial statements and required wording.

4

Assessment takes place

The request is assessed from risk, legal and compliance perspectives.

5

Receive the terms

You are informed of the assessment result and the next steps.

Why CNCredit?

CNCredit’s approach focuses on the genuine assessment of the transaction and identifying a guarantee structure suited to the contractual obligation.

Individual assessment

Each request is assessed based on the contract, amount, duration, beneficiary and company profile.

Digital process

The required documents and information are submitted online through a single request form.

Multiple guarantee types

The portfolio covers the key stages of a tender or contractual relationship.

Special wording

Beneficiary-required wording may be submitted for legal and risk assessment.

Customised structures

Non-standard situations may be assessed according to the project’s specific features.

Support during assessment

The team may request clarifications and additional documents to complete the assessment.

Documents required for guarantee assessment

The exact list depends on the guarantee type, amount, duration, beneficiary and contract complexity. The assessment may commonly include the following categories of documents.

Company documents

  • certificate or registration extract;
  • articles of association and ownership structure;
  • details of directors and beneficial owners;
  • KYC documents and contact information.

Financial documents

  • recent financial statements;
  • trial balances or interim reports;
  • information on existing obligations;
  • cash-flow and project information.

Contractual documents

  • contract or tender documentation;
  • required guarantee wording;
  • works or payment schedule;
  • information about the beneficiary and guaranteed obligation.
Submitting documents does not constitute automatic approval. CNCredit may request clarifications or additional documents depending on the specific request.

Frequently asked questions

General answers about guarantee types, the application process and required documentation.

What is a financial guarantee?

Este un angajament emis în favoarea unui beneficiar pentru acoperirea riscului ca solicitantul să nu își îndeplinească obligația garantată.

Who may request a guarantee?

Primarily companies and other economic operators that must provide a guarantee in a tender, contract or commercial obligation.

What is the difference between a bid guarantee and a performance guarantee?

A bid guarantee is used before contract award, while a performance guarantee is used after award to secure performance of contractual obligations.

What is the difference between a performance guarantee and a maintenance guarantee?

A performance guarantee covers the contract performance period, while a maintenance guarantee covers post-acceptance obligations during the warranty period for works or equipment.

What guarantee is required for an advance payment?

The beneficiary generally requires an advance payment guarantee for the amount paid in advance.

What is a retention guarantee?

It is a guarantee that may replace contractual retentions, allowing retained amounts to be released under conditions accepted by the beneficiary.

When is a customs guarantee used?

In operations such as import, transit, customs warehousing or other procedures where the authority requires taxes or obligations to be secured.

Can I request a guarantee using wording required by the beneficiary?

Yes. The wording may be submitted for assessment, and its acceptance depends on legal, risk and compliance review.

Can I request a special guarantee?

Yes. Non-standard situations, customised wording and special structures are assessed individually.

What information should I prepare before applying?

The amount, currency, duration, beneficiary, guaranteed obligation, contract and required wording, if any.

What financial documents may be required?

Financial statements, recent trial balances, cash-flow information and details of the financed or guaranteed project may be required.

Is the form different for each guarantee type?

No. CNCredit uses a single form for all requests, and the guarantee type may be preselected from this page.

Does completing the form mean that the guarantee is approved?

No. The form represents a request for assessment, and issuance is subject to a complete evaluation and internal approvals.

Can I request several guarantees at the same time?

Yes, but each exposure and obligation must be assessed individually or within an overall limit, where approved.

Can a guarantee be amended after issuance?

Changes may be assessed through an amendment, subject to the agreement of the relevant parties and applicable internal approvals.

In what currency can the guarantee be issued?

The currency depends on the request, contract, beneficiary and issuance options approved for the transaction.

How long is a guarantee valid?

Validity is determined according to the contract and guarantee wording. Some guarantees have a fixed date, while others may include special expiry conditions.

What does a demand under the guarantee mean?

It means a payment demand made by the beneficiary under the conditions and terms stated in the guarantee wording.

Can a newly established company apply?

It may submit a request, but the assessment will consider its limited history, capitalisation, project, ownership, available security and other relevant factors.

Is collateral required?

The guarantee structure and any risk-mitigation measures are determined following the risk assessment and may vary from one request to another.

Glossary of terms

Terms frequently encountered in contracts and documentation relating to financial guarantees.

Applicant / PrincipalThe company requesting issuance of the guarantee for its own obligation.
BeneficiaryThe entity in whose favour the guarantee is issued.
GuarantorThe institution issuing the guarantee undertaking.
Guaranteed obligationThe contractual or legal obligation covered by the guarantee.
Underlying contractThe contract from which the obligation for which the guarantee is requested arises.
ValidityThe period during which the guarantee remains effective.
ExpiryThe time or condition at which the guarantee terminates.
AmendmentA formal change to the amount, duration, beneficiary or other terms.
Demand under the guaranteeA payment demand made by the beneficiary.
ClaimA payment demand submitted under the terms of the guarantee.
Counter-guaranteeA guarantee issued in favour of another institution that issues the final guarantee.
CollateralAssets or mechanisms used to mitigate the assumed risk.
SubcontractorAn entity performing part of the main contractor’s obligations.
AcceptanceThe procedure through which the beneficiary accepts the works, services or goods.
Maintenance periodThe post-acceptance period during which the contractor has remedial obligations.
URDG 758International rules used for certain demand guarantees where incorporated into the wording.

Do you need a financial guarantee?

Select the appropriate guarantee type and submit your request online. The CNCredit team will assess the documentation and provide the information required to continue the process.

Request an assessment