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Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.
Benefits of Bonds, Guarantees and Standby Letters of Credit
Requirements you may need
- The amount and currency of the Guarantee or Bond you are applying for
- Your Guarantee wording as a DOC, DOCX or PDF (if not using standard NatWest wording)
- The account details to be used for charges
- Your tender or contract number, start and end date (not required for IATA & ABTA/CAA or Rental)
- Expiry, renewal date or any events which will cancel the guarantee (not required for IATA & ABTA/CAA and HMRC)
- Documents required in the event of a claim (Standby Letters of Credit only)
- Payment terms (Standby Letters of Credit only)
HMRC CCG2 and HMRC Other
In addition you will also need:
- Engage with HMRC to ensure you present them with the right type of guarantee for your business. Please see guidance here.
- The potential and actual debt limit you have agreed with HMRC
- The applicable EORI number and CCG1 form (CCG2 bond only)
On average, applications will take around 20 minutes to complete. Application progress can't be saved, so please complete in one sitting.
Ready to apply
To apply online for a Bond, Guarantee or Standby Letter of Credit, you must be an existing Natwest Business Customer. If you don't have an account with us, find out how to apply over the phone below.
Please note: Your Relationship Manager should have confirmed you have a credit line in place to support these facilities before applying online.
Bonds and Guarantees
Standby Letters of Credit
Factsheet
Bank Guarantees (also referred to as bonds or Standby Letters of Credit) provide both buyers and sellers in a trade transaction with reassurance that either performance or financial obligations will be met. We can issue guarantees on your behalf or receive and validate guarantees issued by other banks in your favour.
Provide a secure method of settlement and reduce the risk of non- payment for delivered goods. Once issued they are legally binding, irrevocable and cannot be cancelled unless all parties agree.
Documentary collections provide a secure way to make and receive payments during international trade.
Trade Loans tailor loans to a specific contract(s) and cover the funding gap between you paying your suppliers and being paid by your customer. They allow you to repay the loan when your customer pays you and are available to businesses with a turnover of over £2m.
Managing risk
Help protect against the impact of exchange rate fluctuations and the risk of not being paid
MaxTrad
Our secure online platform lets you manage your international trade transactions from anywhere, 24 hours a day