Garantiqa Creditguarantee Co. Ltd.’s surety guarantee can be applied for electronically through the e-Application system or in hardcopy using the Company’s dedicated application forms.
A declaration must be obtained from the natural person owner and leading officer of a customer (debtor) operating as a business association or cooperative on the handling of their data, only the owners whose data is given by the bank in section 4 of the application form are required to sign this declaration.
The following information is intended to provide help in selecting the right type of surety guarantee:
A surety guarantee provided alongside a sovereign counter-guarantee for a company that is subject to the SMEs Act qualifies as an aid . Aids granted in accordance with the Treaty establishing the European Community are surety guarantees granted in the context of the de minimis Regulation, the Transitional Aid Regulation and the Block Exemption Regulation.
Under the de minimis Regulation , the rules of aiding allow companies to receive a guarantee of maximum EUR 2.5 million during any 3 financial years for securing their loans and leasing facilities used for the procurement of production assets, in the context of which the de minimis aid may not exceed EUR 200,000, or EUR 100,000 in the case of companies engaged in the transportation of goods on public roads. Guarantees of up to EUR 1.5 million can be provided for guarantees and factoring transactions in the case of a five-year term, or of EUR 750,000 in the case of a ten-year term.
Agricultural enterprises are an exception to these general rules. According to the rules on agricultural de minimis aid, a guarantee of maximum EUR 2.5 million may be provided to these enterprises for their loans and leasing facilities used for the procurement of production assets, provided that the total amount of the agricultural de minimis aids does not exceed EUR 15,000 over the course of any three financial years. For guarantee and factoring transactions, guarantees may be provided alongside a sovereign counter-guarantee in the amount of EUR 112,500 for a term of five years, or of EUR 56,250 for a term of ten years.
If the guaranteed amount is lower and/or is provided for a term of less than five or ten years, the amount of the aid must be calculated as a proportion of the above maximum amounts.
The EU’s rules on aids also allow the application for a surety guarantee alongside a sovereign counter-guarantee on the basis of block exemption in relation to the intangible or tangible asset investments of SMEs or agricultural enterprises; the relevant detailed rules are set out in the Business Regulations, the annex thereto and the related product descriptions.
Since 1 June 2015, Garantiqa has again been assuming guarantees at its own risk in the case of transactions submitted for individual assessment; the detailed rules thereof are set forth in the Business Regulations.
On 20 June 2011, we suspended for an indefinite period the future acceptance of new municipal credit facilities.