Servicesfor individuals
Pension program
You do not have to queue on at the post-office or to wait for your pension at home for the whole day — we offer you to receive pension at PRAVEX-BANK. You have just to address the Bank and you will be able to receive pension at any time and any point of Ukraine.
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Bank guarantees and stand-by letters of credit
Documentary operations
For corporate clients
Main terms on bank guarantees
Advising bank - bank, which advises and provides written notification to beneficiary or beneficiary’s bank on the terms of provided guarantee in favour of beneficiary.
Beneficiary - body, in whose favour guarantee is issued.
Beneficiary’s Bank - bank, which serves beneficiary on guarantee.
Conditional guarantee - guarantee, on which guarantor bank, in case of violation by principal of its liability, secured by guarantee, pays funds to beneficiary on the basis of beneficiary’s demand and in case of its fulfillment of appropriate terms or presentation of documents, identified in guarantee.
Contra-guarantor bank - bank, which provides contra-guarantee in favour of guarantor bank or in favour of other contra-guarantor bank
Contra guarantee - guarantee, provided by contra guarantor bank in favour of guarantor bank or other contra guarantor bank.
Demand - letter or notification with demand to guarantor bank/contra guarantor bank to pay funds on guarantee.
Guarantee - way of securing of liability fulfillment, in compliance with which guarantor bank takes funds liability toward Beneficiary to pay funds for principal (client) in case of non-fulfillment by the later of his liabilities in full or their part in case of demand by Beneficiary and compliance with all foreseen terms of guarantee.
Guarantee event - fact of violation of liability, secured by guarantee, by principal towards beneficiary, as a result of which guarantor bank gets demand of beneficiary for funds payment in compliance with the issued guarantee, taking into account terms of submitted guarantee and within the period of guarantee validity.
Guarantor bank - bank, which provides guarantee in favour of beneficiary.
Irrevocable guarantee - guarantee, which terms cannot be changed and it cannot be revoked by guarantor bank in compliance with application of principal without beneficiary’s consent and approval.
Principal - person, on which application guarantee/contra guarantee is provided.
Revocable guarantee - guarantee, terms of which can be changed at any time and it can be revoked by guarantor bank on application of principal without preliminary notification of beneficiary.
Tender documents - documents, prepared by tender applicant and passed to persons (participants of tender) for their preparation and participation in tender.
Unconditioned guarantee - guarantee, on which guarantor bank, in case of violation by principal of its liability, secured by guarantee, pays funds to beneficiary on its first demand without presentation of any other documents or fulfilling of any terms.
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