Type of Credit Non Fund Based Limit
Purpose

Bank guarantees in lieu of Earnest Money Deposit, Security Deposit, Bid Bonds, Advance Payment, Performance, Retention Money etc., shall be issued depending on the nature of business requirement.
Margin, security, commission, period of Gtee As per Bank's norms.
Types of Guarantees

Financial Guarantee: guaranteeing repayment of a loan or a debt

Performance Guarantee : These are the guarantees issued in respect of performance of contract or obligation. Although these guarantees are for performance, in such cases, in the event of non-performance of the obligations as per the terms of the contract, the Bank assumes under the guarantee, only monetary liability up to a specified amount

Deferred Payment Guarantee: Issuance of deferred payment guarantees favouring suppliers / manufacturers shall arise where goods / machineries are supplied on credit and the payment is to be made by deferred instalments. The manufacturers / sellers will agree to supply the same only if such deferred instalments are guaranteed by the bank.

Conditions apply. The information provided above is only illustrative and not exhaustive.

Contact: For more details, please contact your nearest: Canara Bank Branch or E-mail to:hosbu@canarabank.com