P20 Contingent liabilities and pledged assets
Contingent liabilities |
2019 |
2020 |
|---|---|---|
Bills discounted |
– |
– |
Other surety undertakings and contingent liabilities |
4,577 |
3,889 |
Total |
4,577 |
3,889 |
- of which for subsidiaries |
4,570 |
3,853 |
The Parent Company’s surety undertakings and contingent liabilities amounted to SEK 3,889 million (4,577), of which SEK 1 million (1) related to the Parent Company’s guarantees for Sandvik Treasury AB’s financial borrowings. The remainder comprised mainly indemnity bonds for commitments of group companies to their customers and vendors on advances received and various types of performance bonds and guarantees to financial institutions relating to local borrowings, and guarantee facilities as well as to pension commitments.
No assets of the Parent Company had been pledged in 2020 and 2019.