Bank Guarantee

What is Bank Guarantee?

A bank guarantee is an undertaking issued by a bank at the request and at the risk of its principal, in favor of another party, the beneficiary. The guarantee promises payment of a specific sum of money upon presentation of a written demand for payment and such other document(s) as specified in the guarantee.

Types of Bank Guarantee:

	Tender/Bid Bond To support your company to participate in project tenders.
	Advance Payment Bond Buyers provide funds to the seller prior to any performance under the contract.
	Performance Bond For replacing tender guarantee upon your company winning the project tender. This is to cover a failure to fulfill contractual obligations.
	Retention Bond Supports an obligation to pay money due to defects which may appear after completion of the project.
	Customs Bond For international trade (import-export) activities through customs