LOCKO-Bank received accreditation with the Russian Railways, Rosatom and Rosoboronpostavka

CB LOCKO-Bank (CJSC) received accreditation as guarantor bank for tender guarantees under contracts of OAO “Russian Railways”, as well as guarantor banks for tender guarantees and performance guarantees with State Corporation "Rosatom" and Rosoboronpostavka. As a result from November 2012 LOCKO-Bank clients may receive banker guarantees for participation in the tenders and contract performance guarantees in favour of such organisations. Such guarantees will help client companies to make profitable contracts as they are able to prove their financial sustainability and seriousness of intentions as tender participants and reliable contract parties. Ekaterina Chudanova, Head of LOCKO-Bank Corporate Clients Department said: “When making decision on banker guarantee we take into account the needs of the client and the organisation in favour of which the guarantee is issued and always offer the most suitable option depending on specific situation. We work with companies across Russia and can offer flexible security terms, establish limit and issue a guarantee within the set limit in 1 day provided that the bank has the signed set of documents.” Bank’s experts note that guarantees gain popularity among Russian companies - in 2012 the demand for guarantees from clients went up by 24% against 2011, whereas demand for unsecured guarantees was up 63%.