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This is an irrevocable undertaking issued by the bank on behalf of the customer to pay to the beneficiary on demand within the validity of the guarantee.It enables our customers meet their performance obligation under contracts with their clients. Under this package we offer the following to our customers:

• Bid Bonds
• Customs Bonds
• Bank Guarantees
• Performance Guarantees
• Shipping Guarantees
• Advance payment  Guarantees
  
  

Features

• This is a facility that must be secured either through collateral or cash cover
• Available to existing customers of the bank with proven track record
• Customers’ request duly signed and guarantee format where  available
• Availability of dedicated relationship officer to give financial advisory
• Maximum tenure of up to two years
• Possibilities of accessing affordable Insurance cover (Takaful) against fire and burglary for your business as well as household belongings

 

Benefits

• Last longer and simple requirements on application
• Quick processing and disbursement
• Client obtains credit hence easing increase in liquidity
• Immediate compensation in case of default
• Flexible security requirements for different customers depending on relationship developed
• Risk free as the client is fully covered against any risk or default
• Enables the clients to do business even when liquidity is not availability