Local Bank Guarantees - the bank can issue performance guarantees and bid bonds to third parties e.g. GOK, parastatals etc. to enable our customers undertake contracts.
Documents to be attached include:
- Indemnity Form
- Application for Guarantee
- Mandate for cash collateral
- Format for Guarantee
- Tender validity period
Letters of Credit
Letters of credit facilitate the business’ import/export requirements in respect of raw materials, vehicles, plant and equipment.
The bank accepts a cash margin of 30% to issue Bid Bonds to third parties