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Bank Guarantees

Bank Guarantees can be used to secure payment of a stated sum of money to a named party (usually called the beneficiary) in the event of non-performance or default by a party in the relationship.

Payment will be made by ANZ on presentation of a written demand for payment by the beneficiary. Bank Guarantees substitute cash deposits with counterparties, freeing up working capital and potentially securing better contract terms.

Learn about the different types of Bank Guarantees

The digitisation of Bank Guarantees

Bank Guarantees have been issued manually and on paper for decades, but that’s changing with the roll out of Lygon.

Lygon is a new, unique and transformational platform developed in Australia that allows for the digitisation of Bank Guarantees. Lygon was born out of the request many businesses have made to banks to have a better, faster and more reliable way of transacting with Bank Guarantees. It has been built by a collaborative consortium of participants including ANZ. ANZ is a shareholder in the company that operates the platform.

The digitisation of Bank Guarantees simplifies the exchange of value and information, automates the underlying transactions through the use of smart contracts, creates a transparent register of valid Bank Guarantees and provides a materially higher degree of security and reduced risk of fraud for all parties involved.

Watch the video to learn more about Lygon.

Are you ready to spread your wings?

ANZ Be Trade Ready contains important information on how to create a bespoke international expansion plan for your business.

Visit ANZ Be Trade Ready

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and just about everything in between

ANZ Institutional supports customers across a wide range of industries operating domestically or moving goods and capital across Asia-Pacific and beyond.

 

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If you're an existing customer
speak to your ANZ Relationship Manager
or Account Manager


For general enquiries 
from within Australia

Call 1300 883 798

 


For general enquiries
from overseas

Call +61 3 9601 1260

 

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