Bank Guarantees

Provide assistance to  customers to  meet their requirements by way of Bank Guarantees favouring third parties for their  business activities, when they are not in a position to provide full cash coverage. Guarantees being a substitute for cash are designed to provide the beneficiary with a speedy monetary remedy, in the case of non performance of the transaction.
 

Local Guarantees are issued in the form of

  • Credit Purchase Guarantee
  • Tender Guarantee (Bid Bond)
  • Performance Guarantee (Performance Bond)
  • Advance Repayment Guarantee (Repayment Bond)
  • Retention Guarantee (Retention Money Bond)
  • Security Bond
  • Customs Duty Guarantee for Imports (Customs Duty Bond)

International Guarantees are issued in the form of

  • Bid Bonds
  • Performance Bonds
  • Advance Payment Bonds

The Bank also issues guarantees favouring International Financial Institutions enabling them to issue guarantees on behalf of their customers favouring third parties. (Counter Guarantees)